X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FORT LAUDERDALE, FL-Nobody is talking for the record but brokers familiar with the transaction say a sale is imminent on the Downtown 19-story, 337,000-sf SouthTrust Plaza here, 25 miles north of Miami. The estimated price of the asset is $57 million or about $169 per sf.

The Miami office of New York-based Sonnenblick-Goldman Co. is brokering the transaction. At least two American pension funds are interested in the property. The California State Teachers Retirement System of Sacramento, CA backed out of a deal to buy the tower last month after a corporate decision to temporarily freeze all new acquisitions.

Regency Holdings is a private partnership affiliated with Regency Realty in Jacksonville.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.