FORT LAUDERDALE, FL—It's the newest retail center built inCypress Creek—and at least one investor seemed to appreciate it.Uptown Centre, a 19,403-square-foot retail asset,just sold for $11 million.
Sky Beach Realty broker-owner HowardBerkowitz represented the buyer, 6300 UptownCentre. 6300 Investments sold theretail center, which it built in 2013.
The deal is consistent with the 2014 trend of submarkets leadinginvestment sales in Broward County. Market reports indicate thatsteady growth in rental rates, low vacancy rates, and growinginterest among local and regional tenants have spurred demand frominvestors.
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