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TA Realty Selling Three Plantation Office Buildings

Western Broward Market Heating Up
March 12, 2018
With the office market in western Broward County enjoying a resurgence, TA Realty is shopping three buildings in Plantation, FL, totaling 257,337 square feet, CoStar News has learned.

Avison Young will market Pointe 1801, Southpointe and Pointe Broward to one or more buyers.

“We’re most concerned with getting the best deal, individually or collectively,” said David Duckworth, a principal with Avison Young.

Avison Young’s John Crotty and Michael Fay are working with Duckworth on the listing.

  • Pointe 1801 totals 99,255 square feet at 1801 NW 66th Ave. It is 100 percent leased to American Express and Vision Health Care.
  • Southpointe, a 4-Star building at 7901 SW 6th Ct., totals 79,694 square feet. It is more than 90 percent leased to such tenants as Balfour Beatty Construction and Solstice Benefits.
  • Pointe Broward, a 78,388-square-foot building at 8211 W. Broward Blvd. (pictured, above), is 79 percent occupied by more than 30 tenants, including Juda Eskew & Associates and Amtrust Bank.


    Boston-based TA Realty bought the three buildings in 2007 as part of a portfolio from entities controlled by Peter Gardner, according to CoStar data. Pointe 1801 sold for $11.75 million, Southpointe traded for $16.25 million and Pointe Broward fetched $13.8 million.

    See CoStar COMPS #1374829, #1277209 and #1279870.

    Brokers say the office markets in Plantation, Miramar and other western Broward communities are maturing, the result of company expansions that are creating the need for more space.

    "Those markets are feeling the benefits of higher occupancy, increased rental rates and more demand," said Peter Reed, of Commercial Florida Realty Services in Boca Raton. "They're definitely becoming more sought-after."

    Plantation's office vacancy rate in the fourth quarter of 2017 was 8.4 percent, down from 13.2 percent two years ago, according to CoStar Market Analytics. Over the same period, quoted rents have increased to $26.77 a square foot from $25.24.

    The former Fashion Mall in Plantation is getting a $350 million makeover as part of a mixed-use redevelopment that will include a 160,000-square-foot office building.

    Also in Plantation, an Illinois-based developer has completed a major renovation at the former Motorola office park. Technology company Magic Leap and health-care company Amsurg have joined Motorola at the 850,000-square-foot campus now known as Plantation Pointe.



    Paul Owers, South Florida Market Reporter  CoStar Group   
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