NKF Capital Markets has announced the $12 million sale of the AT&T net lease office building in Plantation, Florida to Fifteen Group Capital LLC. The 130,549-square-foot, single-tenant building has been a headquarter location for a subsidiary of AT&T, Bellsouth Telecommunications Inc., since the building was constructed in 1985.
NKF Executive Managing Director Michael Lapointe and Managing Director Michael Lohmann represented the owner, FT-Florida Property LLC, along with Brian Bartlett and John Richardson from Newmark Phoenix Realty Group. Location, accessibility and the potential for future redevelopment were three key factors that influenced the buyer’s purchase decision.
“Acquiring a 14AC site with in-place income in one of the most sought-after submarkets in Broward County was very attractive to the buyer, who has plans to reposition the property in the future,” said Lohmann.
Situated on 13.72 acres at 8601 West Sunrise Boulevard, the two-story office building is based in the heart of a dense commercial corridor. The property also benefits from a wide range of retail options, including several restaurants, medical services, a Walmart and a Publix, and accessibility to major highways.
About NKF Capital Markets
NKF Capital Markets, operated by Newmark Group, Inc., is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 16,000 professionals operate from approximately 430 offices in established and emerging property markets on six continents.
We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.