FORT LAUDERDALE, FL-Miami-based Simmons Vedder & Co. has acquired an approximately one-acre site at 100 East Las Olas Blvd. with plans to develop a high-rise mixed-use development with office, hotel and retail space.

Simmons Vedder acquired the property from New York City-based Tarragon Corp. CB Richard Ellis EVP Robert Given, along with his team consisting of Dick Levinson, Gerard Yetming, Zachary Sackley and Christian Lee, were brokers in the land sale.

The site is adjacent to and overlooks Huizenga Park and the River Walk on the New River and is one of the land developable sites on Las Olas Blvd. It is located between First and Second avenues and has more than 270 feet of frontage on Las Olas and a mix of retail, restaurant, entertainment, hospitality and commercial uses. Simmons Vedder is planning to submit plans to city officials by the end of the year for the project and has not determined how much square footage each component of the project will have.

“This is arguably the best remaining development site in Downtown Fort Lauderdale,” Simmons Vedder managing partner Justin Toal tells “It’s at the main and main of Downtown.”

Simmons Vedder plans to begin construction once approvals have been secured. The building’s design will incorporate both hurricane-resistant technology and criteria for LEED certification.

Given tells that the deal has been a year in the works. Tarragon had originally anticipated doing a joint venture with Simmons Vedder on the project, but decided to sell the land after a dramatic drop in the company’s stock price earlier this year. “Tarragon decided in late August to sell the property outright because of its liquidity crunch,” he says.

Simmons Vedder’s plans reflect a change from what Tarragon had planned for the site. “The previous owner had contemplated a residential tower,” Given says. “However, with the market dynamics changing and the market fundamentals for Downtown Fort Lauderdale continuing to improve, particularly in the Las Olas corridor, the site provided an outstanding class A+ mixed-use development opportunity to complement Downtown’s future growth plans.”

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?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

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

  • Free unlimited access to'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 and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.