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FORT LAUDERDALE, FL-Ratsmouth Realty Corp., a family-owned, Massachusetts-based private investment entity, sold Fidelity Investor Center for almost $3.9 million. The price tag for the 7,062-sf building at 2948 N. Federal Highway equals just over $545 per sf. The buyer, locally based Mobile Home Country Club GP, acquired it in a 1031 exchange.

This is one of 90 retail investor centers Boston-based Fidelity Investments operates in 30 states. Fidelity, the country’s largest mutual fund company, provides investment management, retirement and brokerage services from these centers. Nearly eight years remain on its lease at this property.

Mack Gaither, senior investment consultant at West Palm Beach-based RJS Realty Group, represented Ratsmouth in the negotiations. William Rotella of locally based Rotella Group negotiated for the buyer. “This represents one of the higher prices paid for a single-tenant building in South Florida,” Gaither tells GlobeSt.com. He attributes the price tag to a combination of the creditworthiness of Fidelity, the location and current cap and rent rate, which he did not disclose. According to Gaither, Ratsmouth acquired the building in November 2002 for just under $3 million, which is slightly less than $420 per sf to deliver a gain of $885,000 from this sale.

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