Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
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Scott Wadler
Managing Director 786.646.2595 Scott.wadler@berkadia.com
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8601 W. Sunrise Boulevard
Plantation, FL 33322
13.7-ACRE, 512-UNIT SITE PLAN APPROVED DEVELOPMENT OPPORTUNITY IN PLANTATION, FL
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8601 W. Sunrise Boulevard, Plantation, FL 33322
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Jaret Turkell Senior Managing Director 561.573.6140 jaret.turkell@berkadia.com
Omar Morales Director 305.878.2278 omar.morales@berkadia.com
Roberto Pesant Senior Managing Director 305.975.5956 roberto.pesant@berkadia.com
Yoav Yuhjtman Senior Director 786.853.5555 yoav.yuhjtman@berkadia.com
Wouter Lips Senior Financial Analyst 786.830.9002 wouter.lips@berkadia.com
David Greenburg Financial Analyst 305.260.4973 david.greenburg@berkadia.com
Scott Wadler Managing Director 786.646.2595 scott.wadler@berkadia.com
Michael Basinski Vice President – Originations 561.609.4018 michael.basinski@berkadia.com
Miami 1111 Brickell Ave Suite 1650 Miami, FL 33131
Boca Raton 5100 Town Center Circle Suite 550 Boca Raton, FL 33486
The Opportunity:
Berkadia Real Estate Advisors (“BREA”) is pleased to exclusively offer the opportunity to acquire the site-plan approved Plantation City Center (The “Site”), located at 8601 W Sunrise Blvd, a 13.72-acre parcel in the heart of Plantation, Florida, one of Broward County’s biggest office markets. Current improvement on the parcel is an empty office building and training center previously occupied by AT&T.
Current ownership received site plan approvals for a 512-unit development across five garden-style buildings, one eight-story building, and 15 for-sale townhomes. The property will also offer 25,672 SF of retail, and 21,546 SF of amenities. For 10% of the units (51), rents are capped at 120% of AMI, in return for bonus density. A new owner of the project will need to construct off-site and on-site utilities at the site, the cost of which is estimated at $1.78M.
Plantation City Center is ideally nestled between three of South Florida’s major expressways: Florida’s Turnpike, the I-595, and Sawgrass Expressway. As such, it is in close proximity to countless leisure destinations, including Broward Mall, Sawgrass Mills, Plantation Walk and Las Olas Boulevard. The site is also surrounded by major office developments, including Plantation Pointe, Cornerstone Corporate Center, and most notably, the 612- acre office park at Sawgrass International Corporate Park, adding up to 8 million SF of office within a 10-minute drive. Currently, there is no competing supply under construction within a 3-mile radius of the property.