The Comerica Tower in downtown Fort Lauderdale was acquired for $32.5 million, a 56 percent premium over its price four years ago.
CBRE represented seller BRI 1829 Plaza, an affiliate of Hallandale Beach-based Beacon Acquisitions, in the deal. The buyer of the 166,098-square-foot office building at 100 N.E. 3rd Ave. was Beverly, Mass.-based Brookwood Financial Partners.
The price for the 11-story building equates to $196 per square foot. The building last traded for $20.9 million in 2010. It was built in 1984.
“Downtown Fort Lauderdale absorption has been led by a migration of tenants from the suburbs to the Central Business District,” CBRE Vice Chairman Christian Lee said in a news release. “This has been a national trend, where possible, as employers find it easier to attract and retain higher level talent to urban locations.”
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CBRE said the occupancy rate at Comerica Tower increased from 69 percent to 82 percent over the past two years.
“The buyer performed as anticipated on all aspects of the acquisition and we feel confident this exceptional office tower and its tenants will be in very good hands,” said Ariel Bentata, co-founder and managing partner of seller Beacon.
Other CBRE team members who worked on the deal include José Lobón, Charles Foschini, Chris Aponte, Deanna Lobinsky, Travis Herring and Jonathan Kingsley.