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Avison Young Brokers $9M Sale of South Florida Office Building

Avison Young’s Florida Capital Markets Group has arranged the $8.9 million sale of a 26,782-square-foot office building anchored by JP Morgan Chase Bank in Weston, FL.

Located at 1040 Weston Road, the property was 100% occupied at the time of sale with medical tenant comprising more than 60% of the tenancy. Weston is part of the Southwest Broward submarket, the only submarket in the county to report positive net absorption in third-quarter 2020, according to research from Avison Young.

David Duckworth, John Crotty, Michael Fay, Brian de la Fe, Emily Brais and Berkley Bloodworth of Avison Young represented the seller, HRE/SEFIRA Weston Office LLC, in the transaction. The buyer was Shaked 21 LLC. The HRE/SEFIRA partnership, which was led by Highline Real Estate Capital Principal David Moret, completed a series of cosmetic improvements to the property which enabled ownership to increase occupancy from 84% to 100%.

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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.

  • ◦Sale/Acquisition