Adler Development Acquisitions Acquires Fort Lauderdale Office Building For $5.6M

An office property located at 6555 Powerline Road in Fort Lauderdale has been sold in a recent transaction. The property spreads across an area of 55,825 square feet. The sale price for this asset was $5,600,000, resulting in a price per square foot of $100. The transaction took place on 04/07/2022.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $5,600,000
• Address: 6555 Powerline Road, Fort Lauderdale
• Market: Fort Lauderdale
• Buyer: Adler Development Acquisitions LLC
• Seller: EastGroup Properties
• Brokers: Tom O’Loughlin, Larry Genet, and Michael Oretsky - CBRE

The buyer, Adler Development Acquisitions LLC, acquired the property from the seller, EastGroup Properties. The deal was facilitated by the brokers Tom O’Loughlin, Larry Genet, and Michael Oretsky from CBRE. The transaction was closed on 04/07/2022, and the sale price for the office property was $5,600,000, equating to $100 per square foot.