Follow The Money | Broward County Real Estate
This month in my series “ Follow The Money” I present to you the potential “game changers” in real estate. There is a massive influx of investment taking place in South Florida.This potential to renovate and rejuvenate has not been seen in decades. Evidence of this type of transformation can be found in the Miami/Dade areas of Wynwood, MIMO, Edgewater and Overtown to name a few.
Investors see the potential for growth in these areas. You should also take note.
Follow The Money-First stop, Plantation
At the corner of University Drive and Sunrise Boulevard sat the old defunct Motorola Solution Park.
Torbun Partners purchased this site for $38.1 million dollars and recently received approvals from the city of Plantation to renovate this 850,000 square-foot building and turn it into the Plantation Pointe Office Park.
The site has new tenants already lined up. Also, Baptist Health South Florida is constructing a 15,000 square foot center on the property. This will add 40,000 square feet of retail space to include Starbucks, Chipote, Walgreens and other national chains.
Follow The Money-Sunrise
Fairfield Residence, a California-based real estate investment company, just paid $88 million for two apartment communities in Broward County. Details of both these lakeside units are as follows:
Water’s Edge at Welleby Apartment in Sunrise- Purchase price $44.8 million
South Point Apartments in Plantation-Purchase price $43.23 million
Total units purchased – 608 condos located on 45 acres of land.
And finally in real estate news, a Tryp branded hotel broke ground in Fort Lauderdale after securing a loan for $18.4 million. The Tryp Maritime by WIndom, will be located at 2161 West State Road 84. Tryp is a hotel brand owned by Wyndham Worldwide.
As a remember, the Fort Lauderdale Boat Show takes place next weekend. I will be discussing this Fort Lauderdale event this coming week.
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