The disposition, at that price, would be one of the largest of its kind here in recent years, area land brokers tell GlobeSt.com. Comcast bought the site in 2000 from Selkirk Communications for nearly $2.3 million or more than $1.1 million per acre ($25.94 per sf).
Comcast figures condo developers, hungry for choice tracts, will gobble up the site, brokers following the area's hot multifamily market tell GlobeSt.com. But other Downtown brokers in a position to know tell GlobeSt.com Comcast may have to settle for far less than $2 million. That's because the site at the northeast corner of Andrews Avenue and southwest Seventh Street in the historic part of the city isn't zoned for residential and probably won't be for some time. The city's land use plan bans new multifamily construction south of the New River.
That leaves a buyer with the option of developing office or retail on the site or a combination of both, brokers knowledgeable in comparable area projects tell GlobeSt.com. The Comcast site already has 35,000 sf of commercial space, a parking garage and satellite dishes. The former Coca-Cola bottling plant, built in 1935, still stands on the property.
Demolishing the Coca-Cola plant would be comparable to destroying a part of Fort Lauderdale, several brokers with long ties to the area, tell GlobeSt.com. "Everything is about density these days," says a local broker not associated with the listing of the Comcast property. "Everybody is trying to pack more units on to a smaller pad because it's more profitable and because they aren't making any more land these days."
The local office of Colliers International has the listing.
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