About
Feedback
Login
NEWS
ORGANIZATIONS
PROJECTS
PRODUCTS
14 of 3,352
Related buys dev site in downtown Fort Lauderdale
Publisher:
The Real Deal
New York, New York, USA
Media, Real Estate News, New York, Los Angeles, Miami
Author: 
Keith Larsen
Date Published: 
2020-01-06
Keywords: 
Fort Lauderdale, Florida, Office, Housing, Mixed-Use, Real Estate Development, Land Acquisition, Jorge Perez
Tapestry Statistics:
ID: 
3517
Added: 
2020-01-16 00:25:17
Updated: 
2020-01-16 00:28:35
Content Score: 
7.04
Profile Views: 
207
Click Throughs: 
16
Image:
The Real Deal
Excerpt:
The site is next to Related’s Icon Las Olas

Related Group paid $8 million for a development site on Fort Lauderdale’s Las Olas Boulevard as it continues to bet on the city.

The Miami-based real estate developer bought the 0.35-acre parcel for $525 per square foot, marking the highest-priced land trade on Las Olas Boulevard, according to Cushman & Wakefield. Steelbridge, a Chicago and Miami-based private equity firm, sold the property.

Robert Given, Errol Blumer, Troy Ballard and Ricky Giles of Cushman & Wakefield represented the seller in the deal.

The site has flexible zoning and could be developed into a residential, retail, hotel and office project, according to a press release.

The property is one of the last remaining undeveloped single parcels in downtown Fort Lauderdale, with 70 feet of frontage along Las Olas Boulevard. It’s next to Steelbridge’s Las Olas Square, a Class A, 278,635-square-foot mixed-use property anchored by the 17-story SunTrust Center. It’s also next to Related’s 44-story Icon Las Olas, a 272-unit multifamily project.

Known for its condo towers in Miami, Related is expanding its presence in Fort Lauderdale.

In December, Related scored a $47.9 million construction loan to build its New River Yacht Club III project in downtown Fort Lauderdale. In Fort Lauderdale Beach, Related developed Auberge Beach Residences and Spa, a luxury condo project at 2200 North Ocean Boulevard.

Organizations Mentioned: (2)
Cushman & Wakefield
Chicago, Illinois, USA
Real Estate Brokerage, Development, Management
The Related Companies
New York, New York, USA
Real Estate Owner