SOLD
Cypress Corporate Center Acquires Office Property In Fort Lauderdale For $17.5M
1901 West Cypress Creek Road
Office
140,999 SF
140,999 SF
Sold 1 year ago
Summary
Sale
FLORIDA
Office
140,999 sqft
A Fort Lauderdale office building located at 1901 W. Cypress Creek Road has been sold for $17,500,000. The transaction took place on December 22, 2020. The property, known as Cypress Corporate Center, spans 140,999 square feet and has a price per square foot of $124. The buyer of the property is Cypress Corporate Center, while the seller is ICM (VII) Cypress LP.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $17,500,000
- Square Footage: 140,999
- Price per Square Foot: $124
- Address: 1901 W. Cypress Creek Road, Fort Lauderdale
The deal was facilitated by brokers Tyler S. Kuhlman and Douglas K. Mandel from Marcus & Millichap.
The property is situated on a municipal ground lease owned by the City of Fort Lauderdale. The lease has approximately 50 years remaining.
Players
All
3
Agents
2
Agencies
1
Details
SOLD
IMAGE: Richard Redmond, Tyler S. Kuhlman, & Douglas K. Mandel
DATE: 12/22/2020
ADDRESS: 1901 W. Cypress Creek Road
MARKET: Fort Lauderdale
ASSET TYPE: Office
BUYER: Cypress Corporate Center
SELLER: ICM (VII) Cypress LP
BROKERS: Tyler S. Kuhlman & Douglas K. Mandel - Marcus & Millichap
SALE PRICE: $17,500,000
SF: 140,999 ~ PPSF: $124
NOTES: The property is situated on a municipal ground lease that is owned by the City of Fort Lauderdale and has just under 50 years of lease term remaining.View on map
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Address1901 West Cypress Creek Road
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