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Vision Properties Acquires Office Building In Plantation For $57.5M

261 North University Drive
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This Office property located in FL was sold for $57,500,000 over 2 years ago. The brokers of the deal were Marcos Minaya, Jay Adams, Jose Lobon, Christian "Chris" Lee, Eddie Miro, and Brad Domenico

Located at 261 North University Drive in Plantation, this office property has been sold in a transaction. The sale took place on October 15, 2021, with the buyer being Vision Properties, represented by Fred Arena. The seller in this transaction was Encore Capital Management, represented by Art Falcone. The property was marketed by CBRE, with Christian Lee, Jose Lobon, and Marcos Minaya serving as brokers, and Newmark, represented by Jay Adams, also involved in the deal. The office property spans across 173,193 square feet and was sold for a price of $57,500,000, resulting in a price per square foot of $332.

Summary of Transaction Details:

  • Property Type: Office
  • Transaction Amount: $57,500,000
  • Date: 10/15/2021
  • Address: 261 North University Drive
  • Market: Plantation

The sale of this office property involved key individuals and companies in the real estate market. Fred Arena represented Vision Properties as the buyer, while Art Falcone represented Encore Capital Management as the seller. CBRE, with Christian Lee, Jose Lobon, and Marcos Minaya, along with Newmark represented by Jay Adams, played a role as brokers in the transaction. With a significant sale price and a spacious area of 173,193 square feet, this transaction highlights the importance of this office property in the Plantation market.

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Deals
  • Location
    261 North University Drive, Plantation, FL, USA261 North University Drive, Plantation, FL, USA
  • Sale Price
    $57,500,000$57,500,000
    $166 PPSF$166 PPSF
  • Area
    346,386 SF346,386 SF
  • Asset Type
    OfficeOffice
  • Parties
    6 Brokers, 3 Agencies6 Brokers, 3 Agencies

Agents

Marcos Minaya

Marcos Minaya

Deals11
Sold$605.4M

Jay Adams

Jay Adams

Deals3
Sold$140M

Jose Lobon

Jose Lobon

Deals27
Financed$1.9B

Christian "Chris" Lee

Christian "Chris" Lee

Deals23
Financed$1.5B

Brad Domenico

Brad Domenico

Deals114
Financed$2.1B

Eddie Miro

Eddie Miro

Deals29
Financed$210.9M

Agencies

CBRE

CBRE

Agency
Deals4229
Volume$184.3B

Newmark

Newmark

Agency
Deals3894
Volume$397.4B

Progress Capital

Progress Capital

Agency
Deals382
Volume$4.9B

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Deal Summary

SALE IMAGE: Christian Lee, Marcos Minaya, Fred Arena, Jose Lobon, Art Falcone & Jay Adams DATE: 10/15/2021 ADDRESS: 261 North University Drive MARKET: Plantation ASSET TYPE: Office BUYER: Vision Properties - Fred Arena SELLER: Encore Capital Management - Art Falcone BROKERS: Christian Lee, Jose Lobon & Marcos Minaya - CBRE; Jay Adams - Newmark SALE PRICE: $57,500,000 SF: 173,193 ~ PPSF: $332

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261 North University Drive

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