HFF Wraps-Up $43M Office Deal in Ft. Lauderdale
- Oct 11, 2016
Fort Lauderdale, Fla.—HFF recently closed the $43 million sale of Cypress Park West I and II, a two-building, Class A office complex totaling 225,757 square feet in Fort Lauderdale. Naya USA Investment & Management, a private investment group based in Hollywood, Fla. acquired the property for $43 million from Stockbridge Capital Group.
HFF marketed the property on behalf of Stockbridge. The investment sales team was led by Director Ike Ojala, Senior Managing Director Hermen Rodriguez and Associate Director Jorge Portela.
Completed in two phases, in 1987 and 2003, the mid-rise buildings feature floor plates with above standard ceiling heights, according to Yardi Matrix. Amenities include a conference center, on-site café, 24/7 security, 1,031 parking spaces and electric vehicle charging stations. The property is currently managed by JLL.
The 97 percent-leased complex is anchored by Microsoft’s Latin American headquarters and is home to tenants such as Regus, Sprint, MSC Cruises and Southern Auto Finance Co. The leasing manager and broker of Cypress Park West I and II is Colliers International, according to Yardi Matrix.
Cypress Park West I and II are situated on 18.5 acres at 6700 and 6750 N Andrews Ave., respectively. Adjacent to a full-service Marriott hotel, the location offers direct frontage and easy access to Interstate 95 and Florida Turnpike. The property is a short distance from the Fort Lauderdale/Hollywood International Airport as well as the Cypress Creek Station of the Tri-Rail system.
Photo courtesy of Yardi Matrix