Transaction represents trend of investor interest shifting from opportunistic to stabilized commercial assets in South Florida
Plantation, FL – July 2, 2015 – (RealEstateRama) — CapasGroup Realty Advisors, an investment sales organization specializing in the marketing and disposition of investment properties, announced today the $2.95 million sale of a 34,812 square foot, 100 percent leased office-flex building located at 1700 NW 65th Avenue within the Plantation Technology Park in Plantation, Fla. Brad Capas, President of CapasGroup, represented the seller, Recom Plantation, LLC, a Miami-based private investment entity, during the sale to Beachway Apartments, Inc.
This transaction demonstrates a current trend of increasing investor demand for stabilized, income producing assets across South Florida. According to Capas, “the level of interest in this offering surged in early 2015 at which time investor demand shifted noticeably to stabilized opportunities. Prior to Q1 2015, most of the investor interest we were experiencing was opportunistic, purely focused on deep value-add properties.”
Capas attributes the shifting demand characteristics to the general strengthening of commercial market conditions, the diminishing supply of underperforming assets, and an abundance of capital seeking quality South Florida investments.
“Investors still prefer value enhancement opportunities when they can find them, but they seem more willing today to acquire stabilized assets in good locations. Investors need to deploy capital, and South Florida continues to be a highly targeted market.”
The Plantation Technology Park spans 160 acres in the northeast section of Plantation, conveniently located near the Florida Turnpike and Sunrise Boulevard, bordering the City of Fort Lauderdale. The Park is home to Kenig Aerospace, Goodwin Technology, and e.Builder.
The buyer was represented by King Real Estate.
CapasGroup Realty Advisors is a Fort Lauderdale-based investment sales organization specializing in the marketing and disposition of investment properties, including large land tracts, throughout Florida. For more information, please visit http://www.capasgroup.com.