YMP Real Estate Management Purchases Property In Fort Wayne For $29.25 Million With Cushman & Wakefield Reps

The office park involved in the transaction is Lakeshore Business Center, located at 3201 W Commercial Blvd, Fort Lauderdale. The property spans 237,682 square feet and was sold for $29,250,000. The sale price reflects a cost of $123 per square foot. Developed over a period from 1986 to 2000, Lakeshore Business Center comprises four two-story buildings situated on approximately 17 acres of land. At the time of the sale, the property was 79 percent leased, housing tenants such as ECI Telecom, Hair Visions International, and Kirlin Florida.

Summary of transaction details:

• Property Type: Office Park
• Transaction Amount: $29,250,000.00
• Square Footage: 237,682
• Address: 3201 W Commercial Blvd, Fort Lauderdale
• Market: Fort Lauderdale
• Seller: Morning Calm Management
• Buyer: YMP Real Estate Management
• Seller's Representatives: Dominic Montazemi (Cushman & Wakefield), Gregory (Greg) Miller (Cushman & Wakefield)
• Other Representatives: Mike Davis, Scott O’Donnell, Rick Brugge, Michael Lerner (Cushman & Wakefield)

Morning Calm Management was actively involved in the sale, having recently completed over $1.3 million in capital improvements, including upgrades to interior finishes, roofs, restrooms, lobbies, corridors, and HVAC systems. The transaction highlights the growing appeal of the Cypress Creek area for office space as Fort Lauderdale's central business district experiences rising average asking rents.