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Avison Young Arranges $8M Sale of Weston Office Property

Avison Young has arranged the $8.3 million sale of the Weston Commerce Center, a 33,720-square-foot office building in Weston, FL.

Located at 1625 N Commerce Parkway, the property is currently fully occupied. The property was the second of the seller’s two-building office portfolio to sell within the past three months.

David Duckworth, John K. Crotty, Michael Fay, Brian C. de la Fé, Emily Brais and Berkley Bloodworth of Avison Young represented the seller, a joint venture between Highline Real Estate Capital and Sefira Capital, in both sales. The JV had acquired the two-property portfolio in 2017 for $13 million. The buyer of 1625 N Commerce Parkway was Fox Ridge Capital.

“When we acquired the portfolio, we recognized the strength of the Weston submarket and saw the opportunity to drive occupancy and rental rates through the completion of aesthetic improvements and proactive asset management,” said David Moret, president at Highline Real Estate Capital. “With the assistance of Avison Young’s leasing team, the buildings reached full occupancy well ahead of schedule, and we were able to substantially increase rental rates, which ultimately led to two successful sales during a pandemic after a hold period of less than four years.”


Inside The Story

Fox Ridge Capital

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

  • ◦Acquisition