CORAL SPRINGS, FL—The nearly fully occupied BB&T Bank building at 9600 West Sample Road has been sold for $4.275 million to a Montreal-based private investor.
Marcus & Millichap reported the sale of the 37,369-square-foot office building, which calculated out to approximately $114 a square foot. Douglas K. Mandel, a first vice present investments, at Marcus & Millichap's Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a Miami-based partnership.
The BB&T Bank Building, located near the Broward Health Coral Springs Hospital, was constructed in 1978 and is currently 93% occupied with a mix of office and medical office tenants. BB&T Bank has a branch at the property with drive-thru lanes and an ATM.
“This was an opportunity for an investor to acquire a stabilized asset located within the Coral Springs Community Redevelopment Area,” says Marcus & Millichap's Mandel. “The focus of the redevelopment plan is to convert the current low-density, unconnected, car-dependent, development pattern into a 'real downtown' where none has existed before.”
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