Nearly Vacant Medical Building Trades Hands

CBRE has arranged the sale of a Fort Lauderdale asset.

By Alex Girda, Associate Editor

The Broward Health Building in Fort Lauderdale was recently acquired by a local investor. Sold by Federal Associates for $2.35 million in a deal arranged by CBRE, the medical office building is a Class B grade property.

Arranged by Larry Genet, a member of CBRE’s South Florida Medical Specialty Practice, as well as fellow CBRE representative Deborah Fink on behalf of the seller, the deal was handled by Steven Davis from Sperry Van Ness on behalf of the buyer. This is the seventh transaction of this kind to be completed by Genet in Broward County just this year.

Broward Health Building
Broward Health Building

Located at 3536 Federal Highway in Fort Lauderdale, the property offers a total of 12,808 square feet of space. The two-story asset is located on a 1.01-acre site and offers a large amount of frontage on Federal Highway. Consisting of three separate suites, one of which is located on the building’s second floor, the asset is one of the few freestanding properties in the submarket.

Currently operating at large vacancy, the asset features a covered drop-off and pick-up area, as well as 72 parking spaces, an elevator, and large arched windows. Proximity to the Holy Cross Hospital, Broward Health Imperial Point, Publix, Whole Foods, PDQ, as well as banking services.