Broward County’s commercial real estate sector is experiencing a dynamic period, marked by significant new developments and substantial investments across various property types. From luxury residential towers to essential multifamily housing and revitalized office spaces, the region is attracting considerable attention and capital, signaling robust growth and a positive outlook for the market.
Broward County’s Residential Boom
Related Group has broken ground on Andare Residences, a 46-story luxury condominium tower in Fort Lauderdale, set to become the tallest residential building in Broward County. Designed in collaboration with Italian design house Pininfarina, the 163-unit development features bespoke residences and extensive amenities, including a rooftop resort and a ground-floor restaurant. The project signifies a major investment in high-end living, with over 50% of units already sold.
In a separate development, 13th Floor Investments and JSB Capital Group are partnering on Parks at Davie, a 383-unit multifamily project in Davie. This development, which secured $67.5 million in construction financing, will offer a mix of market-rate and workforce apartments, along with amenities like a resort-style pool and co-working spaces. The project is expected to be completed in 2027.
Office Market Refinancing Signals Confidence
The office sector is also showing signs of strength, with a $68.2 million refinancing secured for the Royal Palm I and II office complex in Plantation. This Class A, two-building complex, totaling 465,592 square feet, underwent significant capital upgrades and boasts modern amenities. The refinancing, arranged by JLL Capital Markets, underscores continued investor confidence in high-quality office assets in Florida, driven by favorable market fundamentals and overall growth.
Key Takeaways
- Broward County is witnessing significant activity in both luxury and workforce housing.
- The office market is showing resilience, with substantial refinancing deals indicating investor confidence.
- New developments are focusing on high-quality amenities and strategic locations.
- The region’s growth is attracting major developers and investment capital.
Sources
- $68.2M refinancing secured for Broward County office complex, JLL.
- Related Group Breaks Ground On Andare Residences Designed by Pininfarina, Set To Be Tallest Residential Tower
in Broward County — PROFILEmiami South Florida Real Estate and Lifestyle, PROFILEmiami. - 13th Floor, JSB Teaming Up on 383-Unit Broward County Apartments, Connect CRE.