2900 W Cypress Creek Rd

The property involved in the transaction is a two-story office building located at 2900 W Cypress Creek Road in Fort Lauderdale. The building encompasses a total area of 42,438 square feet and sits on a 2.28-acre lot. The transaction was concluded for a price of $5,800,000. The property was 96% occupied at the time of sale, featuring a mix of office and medical tenants, and benefits from its strategic location adjacent to the Fort Lauderdale Executive Airport, with access to major transportation routes including I-95 and Florida’s Turnpike.

Summary of transaction details:

• Property Type: Office Building
• Transaction Amount: $5,800,000
• Buyer: MMB Commercial Properties
• Seller: Cypress Executive Center, LLC
• Buyer's Representative: Jerry De Los Reyes Patricio - Miami Lifestyle Realty
• Seller's Representatives: Keith Graves - Berger Commercial Realty, Jonathan Thiel
• Occupancy Rate: 96%
• Land Area: 2.28 acres
• Close Date: July 30

Representatives for the seller included Senior Vice President Keith R. Graves, CCIM and Senior Sales Associate Jonathan Thiel. The deal was characterized by a stable rent roll and noteworthy value addition opportunities in the South Florida commercial real estate market. Investors were particularly attracted to the property's prime location within the tri-county area.