FORT LAUDERDALE, FL—Avison Young facilitated the $5 million acquisition of a fully renovated 24,976-square-foot office building located at 2727 West Cypress Creek Road on a 1.04-acre lot in Fort Lauderdale on behalf of the buyer, Steinger, Iscoe & Greene , P.A., a Florida-based law firm specializing in personal injury. Following an extensive building search in Fort Lauderdale's Cypress Creek submarket, Mark M. Rubin, vice president with Avison Young, sourced the off-market, move-in-ready opportunity and facilitated a swift purchase for his client. "In today's rising-rental-rate and low-interest-rate environment, many companies are seeking owner-user opportunities as they reduce occupancy costs as opposed to leasing," says Rubin. "With its current lease soon to expire, Steinger, Iscoe & Greene desired a 'plug-and-play' office asset that could quickly accommodate its growing Fort Lauderdale operations. Due to our extensive network and knowledge of the market, we successfully secured an ideal asset off market." Robert Listokin, executive vice president with Colliers International South Florida, represented the seller, Camelot Properties of South Florida, during the transaction.

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Middle Market Digest: Early This Week Florida

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