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PLANTATION, FL-Enclave on the Park LLC, an entity formed by principals of Fort Lauderdale-based Brenner Real Estate Group and Deerfield Beach-based Howard Torn Construction Associates, has paid $6.2 million, or about $1,681 an acre, for a 3.7-acre parcel on the southwest corner of Broward Mall at SW Third Street and Perimeter Road. It plans to develop Enclave on the Park, a 77-unit townhouse complex.

Scott Brenner of Brenner represented the partnership, which he heads with Charles Mishner, president of Howard Torn, in the acquisition transaction. Pike Rowley of Fort Lauderdale-based the Rowley Group represented the seller, Millsservices Corp., which is identified as a Delaware corporation.

Brenner tells GlobeSt.com the site once housed a movie theater that has been torn down and now contains only parking space and trees. "It is within walking distance of many upscale retailers and restaurants," he says. "The city has re-zoned to allow for mixed-use and residential development, so our plan is already in the approval process." He anticipates breaking ground at the end of third quarter or early fourth quarter, with completion by year-end 2007. "The hard construction cost is about $120 per sf," he says.

The three-story townhouses will range from 1,600 sf to 1,800 sf and some will have rooftop terraces. Pricing will begin at about $450,000, Brenner says, "with corner, larger units with views and terraces selling for about $600,000 and change." Tara Hames, Brenner's residential sales and marketing director, will handle the sales. Howard Torn is the builder, and Mishner says units are being built to stringent hurricane standards. Boca Raton-based Retsch Lanao Caycedo Architects is the designer and site planner for the complex.

Instant Insights /

$6M Land Buy Paves Way for 77-Unit Enclave on the Park

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