HFF closes $23.9 million sale of Class A office property in Fort Lauderdale, Florida
MIAMI, FL – September 15, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $23.9 million sale of Park Center, a five-story 119,224-square-foot, Class A office property in the Cypress Creek submarket of Fort Lauderdale, Florida.
HFF marketed the property on behalf of the seller, RFP Mainstreet Park/Cypress LLC, a joint venture between Mainstreet Capital Partners, out of Fort Lauderdale, and Realty Financial Partners, out of Boston, and procured the buyer, Gladstone Commercial Corporation. The asset was sold on a free and clear basis.
Park Center is located at 6363 NW 6th Way just west of Interstate 95 in the Cypress Creek submarket. The property is 100 percent leased to Citrix Systems, a Fortune 1000 and S&P 500 company that provides a complete and integrated portfolio of Workspace-as-a-Service, application delivery, virtualization, mobility, network delivery and file sharing solutions that enables companies to ensure critical systems are securely available to users via the cloud or on premise and across any device or platform.
The HFF investment sales team representing the seller was led by senior managing director Hermen Rodriguez, associate director Jorge Portela and director Ike Ojala.
HFF’s office investment sales team has closed more than 1.7 million square feet of office space in the Miami/Fort Lauderdale market in 2016. Notable transactions include Aventura Corporate Center, Miami Tower and Datran Center, among others.
About Mainstreet Capital Partners
Mainstreet Capital Partners is a real estate investment and management firm specializing in office and industrial acquisitions. Established in 1999 by Paul J. Kilgallon, Mainstreet Capital Partners seeks to align itself with investment partners by sourcing investment opportunities in the southeastern and southwestern United States.
About Realty Financial Partners
Realty Financial Partners ("RFP") is a principal investor in a broad range of commercial and residential real estate, primarily in the Northeast U.S. RFP is focused on real estate projects that require development, re-development or significant repositioning in their respective market or submarket. Operating outside the constraints of the traditional private equity fund model, RFP works with joint venture partners, financial institutions and intermediaries to creatively structure investments throughout the capital stack.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.