Midtown Capital Partners Acquires Plantation Office Building For $78M From Torburn Partners

Midtown Capital Partners, led by Alejandro Velez, has acquired an office property in Plantation. The property is located at 1700 North University Drive and spans 157,841 square feet. The transaction took place on May 5, 2021, with a sale price of $78,000,000. This equates to a price per square foot of $494. The property sits on 3 acres, resulting in a price per acre of $26,000,000.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $78,000,000
• Address: 1700 North University Drive
• Market: Plantation
• Buyer: Midtown Capital Partners - Alejandro Velez
• Seller: Torburn Partners - Michael Burns
• Square Footage: 157,841
• Price per Square Foot: $494
• Acreage: 3
• Price per Acre: $26,000,000

Alejandro Velez, representing Midtown Capital Partners, led the acquisition of the office property in Plantation. Michael Burns acted as the representative for Torburn Partners, the seller in the deal.