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SUNRISE, FL-An owner identified as ACP Office I LLC sells the 91,860-sf office building at 7771 W Oakland Park Blvd. for $7.8 million, or just under $85 per sf, to a private investment group identified as BRI 1808 TBD LLC. The building is currently just more than 50% leased to a mix of government agencies and corporate and professional tenants, according to John F. Bell, SVP who handles South Florida investment sales in the local office of Trammell Crow Co. and negotiated the sale.

“The property was recently renovated,” he tells GlobeSt.com. “It was built in 1983 and competes in the class B market.” The two-story structure has an interior glass atrium, which Bells says, “distinguishes it from the competition.

“As market fundamentals improve here, demand is increasing and the market is moving away from a tenant’s market. There’s room for pricing growth in the class B office market,” he adds. The current asking rental rate in the building, according to Bell, is $11 per sf, triple net.

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