Dev Motwani Of Merrimac Ventures Acquires Office And Retail Properties In Fort Lauderdale For $7.35M

The transaction involved a retail and office assemblage comprising multiple properties along North Andrews Avenue, specifically at 400, 416, 424, and 412-414 North Andrews Avenue in Fort Lauderdale. The total sale price for the properties was $7,350,000, covering a combined square footage of 20,200 SF, which brings the price per square foot to $364.

Summary of transation details:

• Property Type: Office & Retail
• Transaction Amount: $7,350,000
• Buyer: Dev Motwani - Merrimac Ventures
• Address: 400, 416, 424 & 412-414 North Andrews Avenue
• Market: Fort Lauderdale
• Square Footage: 20,200 SF
• Price per Square Foot: $364

Merrimac Ventures has already leased 10,000 SF at 400 North Andrews Avenue to a private school and aims to utilize the strategic location for its ongoing development projects in the rapidly growing neighborhood.