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January 5, 2021 Comments (0) Views: 313 Florida News, South Florida

Avison Young Brokers $9M Sale of South Florida Office Building

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Avison Young’s Florida Capital Markets Group has arranged the $8.9 million sale of a 26,782-square-foot office building anchored by JP Morgan Chase Bank in Weston, FL.

Located at 1040 Weston Road, the property was 100% occupied at the time of sale with medical tenant comprising more than 60% of the tenancy. Weston is part of the Southwest Broward submarket, the only submarket in the county to report positive net absorption in third-quarter 2020, according to research from Avison Young.

David Duckworth, John Crotty, Michael Fay, Brian de la Fe, Emily Brais and Berkley Bloodworth of Avison Young represented the seller, HRE/SEFIRA Weston Office LLC, in the transaction. The buyer was Shaked 21 LLC. The HRE/SEFIRA partnership, which was led by Highline Real Estate Capital Principal David Moret, completed a series of cosmetic improvements to the property which enabled ownership to increase occupancy from 84% to 100%.

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