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Cushman & Wakefield to Lease Struggling Fort Lauderdale Office Tower

100-110 E. Broward Blvd. Recently Sold at a Foreclosure Auction
January 30, 2018
It's Cushman & Wakefield's job to oversee the renaissance at 100-110 E. Broward Blvd. in downtown Fort Lauderdale, FL.

Stockbridge Capital Group has retained the full-service commercial real estate brokerage as exclusive leasing adviser for the foundering property, bought at a foreclosure auction in early January.

San Francisco-based Stockbridge paid $41.06 million, or almost $108 per square foot, for the 4-Star office complex, according to CoStar data. The seller was LNR Property Corp.

The 342,465-square-foot asset includes a 24-story tower and an adjacent two-story office and retail annex. The property previously was owned by a Tenancy-in-Common, but the fractured ownership led to significant challenges, according to CBRE's Jose Lobon, who noted that the property was 58 percent vacant at the time of the sale.

Lobon handled the transaction with colleagues Christian Lee, Amy Julian, Andrew Chilgren, Chris Gallagher and Ian Cosman.

Stockbridge will launch a major renovation, and the building can accommodate a tenant up to 125,000 square feet, according to Cushman & Wakefield. Current tenants include BB&T and the Greater Fort Lauderdale Alliance.

"This building has tremendous upside and visibility at the gateway to downtown Fort Lauderdale, and we look forward to helping it reach its full potential," Cushman's Travis Herring said.

Deanna Lobinsky, Katherine Ridgway and Chase Kulp will work with Herring on the leasing assignment.

Paul Owers, South Florida Market Reporter  CoStar Group   
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