Fort Lauderdale, FL – August 18, 2015 – (RealEstateRama) — CBRE arranged the sale of a prime downtown development site at 100 E. Las Olas Blvd. in the heart of the main business corridor of Fort Lauderdale, Florida. The 0.88-acre property was acquired from SVP Las Olas Limited Partnership by Kolter Acquisitions, LLC for $17.25 million.
“In keeping with a national rebirth in urban living, downtown Fort Lauderdale is experiencing a revival that will generate future economic development and vitality,” said Robert Given, Vice Chairman, CBRE Capital Markets. “With an incomparable downtown location, this prime infill site presented a compelling opportunity for investors to participate in a world-class development among the southeastern United States’ most desirable addresses.”
Adjacent to the Riverwalk along the New River, the property features 250 feet of linear frontage on bustling Las Olas Boulevard, with zoning that permits a mix of uses including office, hotel, retail and residential. The site is bordered by Las Olas Riverhouse (a condominium) to the south, Huizenga Plaza to the west, the 200 East Las Olas (New River Center) office building to the east, and the Florida Atlantic University campus to the north.
CBRE’s Christian Lee, Gerard Yetming, Zachary Sackley, José Lobón, and Neal Victor collaborated with Mr. Given in representing the seller.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
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