5101 NW 21st Avenue
Fort Lauderdale, FL 33309 ·
73,216 SF · Industrial For Sale
|Price||N/A||Property Use Type||Investment|
|Building Size||73,216 SF||Tenancy||Multiple|
|Property Type||Industrial||Clear Ceiling Height||16 ft.|
|Property Sub-type||Flex Space||Lot Size||6.09 SF|
|Listing ID: 18515003||Date Created: 01/14/2014||Last Updated: 01/21/2015|
CBRE, Inc., is pleased to announce that it has been appointed exclusive advisor for the sale of Executive Airport Business Center ( the Property or EABC ). The Property comprises the leasehold interest in a 6.09 acre site developed with 73,216 SF of highly finished,single-story office/service space (86.4% office build out) located in the dynamic City of Fort Lauderdale. Currently, the two-building property is 90.2% occupied by 15 tenants. Among EABC' s diverse base of tenants, 13% are affiliated with major national companies including GE, Racetrac Petroleum and People' s Gas.
The Property offers investors the unique and very limited opportunity to purchase highly valuable office/service product well below replacement cost. Land constraints in in-fill Broward County have driven land prices for commercially zoned tracts to numbers exceeding $20 per land SF (roughly $70 per building SF). This, in combination with high construction costs, places replacement value at nearly $170 PSF. The anticipated sale price of EABC will be significantly below replacement cost.
The Property is centrally located within the Uptown Business District of prestigious Fort Lauderdale, beside Fort Lauderdale Executive Airport (one of the busiest General Aviation airports in the country) and one block north of a major thoroughfare, Commercial Boulevard. Via Commercial Boulevard, EABC enjoys excellent access to Interstate 95 to the east (1.20 miles) and the Florida Turnpike to the west (2.6 miles), and as a result, the surrounding tri-county area.
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