Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MIAMI-Three small office properties in as many different locations have traded hands in unrelated transactions aggregating just over $12.3 million. The priciest is Boca Raton-based Southern Management and Development’s sale of the four-story, 22,000-sf property at the corner of Sans Souci and Biscayne boulevards to a South Florida developer for $4.5 million or approximately $204.55 per sf. The others, at nearly half the price per sf, are in Oakland Park and West Palm Beach.

Portsmith Interstate LLC bought the Interstate Center I and II, twin four-story buildings aggregating 27,974 sf for just over $3.3 million or $118.86 per sf. The center, previously owned by Blanco Interstate LLC, is at 1620-1640 W. Oakland Park Boulevard in Oakland Park.

Robert Listokin, a partner, and Sal Bonsignore, an office specialist in the Fort Lauderdale office of Colliers International, were the sole brokers in this transaction. The new owner plans to convert the buildings to office condos, Listokin says.

Listokin also represented HRB Property Corp. in the sale of a 41,750-sf building at 302 Datura St. in the West Palm Beach CBD. Florida-based Datura & Olive Residences acquired the property for $4.5 million or $107 per sf. The three-story building was completed in 1955 and renovated in 1993.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.