Cushman & Wakefield, as exclusive advisor, is please to present the Victoria Park Townhome development site. The 40,500 square foot site is located ½ block south of Sunrise Boulevard in the highly desirable Victoria Park neighborhood of Ft Lauderdale. The site has preliminary drawings for an 18-townhome development totaling 45,840 sellable square feet or 2,547 sellable square feet per townhome. The zoning is RMM-25 which allows for residential multifamily midrise development of no more than 35 feet high. The max density is 25 units per acre- hence 23 units are allowable. The proposed townhomes feature 3 stories with elevators for an average townhome size of 2,547 SF.
The site currently has four duplexes, One Single Family Residence, and One Triplex that generate $172,000 in yearly gross income and $78,000 in expenses providing $94,000 in net operating income. The last lease expires January 2020.
Utilities and Services: all necessary utilities and public services including water, sewer, electricity and telephone are available in adequate capacity to support development on the site.
Cushman & Wakefield, as exclusive advisor, is pleased to present an exceptional investment opportunity to acquire Bell Coconut Creek (the “Property”) —a 366 unit, value-add multifamily asset located in Coconut Creek, Florida. The property is comprised of 30% 1-bedrooms, 44% 2-bedrooms, and 27% 3-bedrooms and has maintained an average occupancy of over 97% over the last two years. Built in 1998 and featuring 9’ ceilings, Bell Coconut Creek received an extensive capital infusion including a renovated clubhouse, expanded fitness center, upgraded amenities, new landscaping and modest in-unit renovations. Cushman & Wakefield forecasts additional in-unit renovations to include quartz countertops, backsplash, new cabinet pulls, and hard-surface flooring in the bedrooms. The property has excellent drive-by visibility, with 37,500 cars daily along Hillsboro Boulevard and 110,000 cars along Florida’s Turnpike. The central Coconut Creek location is a magnet for employees working in the area’s largest employment centers, such as Boca Raton, Cypress Creek, Plantation, Sunrise, and Fort Lauderdale. In addition, the property is one mile east of Lyon Technology Park, with 766,000 square feet of industrial and flex space.
Cushman & Wakefield, as exclusive marketing advisor, is pleased to present the opportunity to acquire Parcel 3B at Las Olas Square, a 15,277-SF site at the epicenter of Downtown Fort Lauderdale. The property has 70 linear feet of frontage along Las Olas Boulevard – the main entertainment and business corridor of Downtown Fort Lauderdale – and is directly adjacent to two of the area’s most iconic developments, Las Olas Square and Icon Las Olas. The liberal RAC – CC zoning allows for a variety of uses including residential, hospitality, office and retail.The site is one the last remaining undeveloped single parcels in Downtown Fort Lauderdale and offers incredible connectivity and walkability to all of the world-class amenities that the area has to offer. With multiple projects underway and planned for Fort Lauderdale, the city is in the midst of an urban revival as the CBD is poised to experience a significant increase in its residential population. Parcel 3B at Las Olas Square presents a compelling opportunity for developers to purchase a trophy development site in Fort Lauderdale’s urban core.