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Davie Office Park Trades for $11M
Colliers International Florida has arranged the $10.7 million sale of University Office Park, a 54,578-square-foot office development in Davie.
Located at 5400 South University Dr., the office park sits on more than eight acres of land, including a nearly two-acre lake. At the time of sale, the property was 96% leased to 34 tenants, including Allstate Insurance, Chubb Insurance and Sherwin Williams. In the past two years, University Office Park has undergone more than $1 million worth of investments, including new roofs, painting and sealing for all three buildings, landscaping and sprinkler systems, new signage and tenant improvements for more than 30,000 square feet of the office space.
Harry Blyden and Bastian Laggerbauer of Colliers represented the seller, University Park Holdings LLC, in the off-market transaction. The buyer was Reflin 22 WG LLC, an Argentinian buyer active in the South Florida market.
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