Vision Properties Acquires Office Building In Plantation For $57.5M

Located at 261 North University Drive in Plantation, this office property has been sold in a transaction. The sale took place on October 15, 2021, with the buyer being Vision Properties, represented by Fred Arena. The seller in this transaction was Encore Capital Management, represented by Art Falcone. The property was marketed by CBRE, with Christian Lee, Jose Lobon, and Marcos Minaya serving as brokers, and Newmark, represented by Jay Adams, also involved in the deal. The office property spans across 173,193 square feet and was sold for a price of $57,500,000, resulting in a price per square foot of $332.

Summary of Transaction Details:

• Property Type: Office
• Transaction Amount: $57,500,000
• Date: 10/15/2021
• Address: 261 North University Drive
• Market: Plantation

The sale of this office property involved key individuals and companies in the real estate market. Fred Arena represented Vision Properties as the buyer, while Art Falcone represented Encore Capital Management as the seller. CBRE, with Christian Lee, Jose Lobon, and Marcos Minaya, along with Newmark represented by Jay Adams, played a role as brokers in the transaction. With a significant sale price and a spacious area of 173,193 square feet, this transaction highlights the importance of this office property in the Plantation market.