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Cypress Corporate Center Acquires Office Property In Fort Lauderdale For $17.5M

1901 West Cypress Creek Road
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This Office property located in FL was sold for $17,500,000 over 3 years ago. The brokers of the deal were Tyler Kuhlman and Douglas (Doug) Mandel

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.

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Deals
  • Location
    1901 West Cypress Creek Road, Fort Lauderdale, FL, USA1901 West Cypress Creek Road, Fort Lauderdale, FL, USA
  • Sale Price
    $17,500,000$17,500,000
    $124 PPSF$124 PPSF
  • Area
    140,999 SF140,999 SF
  • Asset Type
    OfficeOffice
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Tyler Kuhlman

Tyler Kuhlman

Deals31
Sold$514.4M

Agency

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

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Deal Summary

[embed] SALE 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.

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1901 West Cypress Creek Road

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