When an affiliate of Philadelphia's Legg Mason Real Estateacquired the 12-story, 450,000-sf office building at 6451 N.Federal Highway in north Fort Lauderdale earlier this year, theimmediate concern was filling 200,000 sf of space vacated byBellSouth.
The purchase price of $25.24 million, or $56 per sf, not onlyallows for a $10-million investment in a building facelift, butseller BellSouth continues to lease almost half the facility.
Additionally, two surface parking lots to the north and south ofthe building totaling 8.5 acres are being sold off. Another surfaceparking lot to the west of the building will be used for a newfive-level 1,500-space parking garage.
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