Tobin Real Estate Secures $16 Million Deal for Broward Corporate Center
Tobin Real Estate has achieved another milestone in commercial real estate with the successful sale of the Broward Corporate Center in Davie, Florida, valued at $16 million. This transaction highlights the expertise of Senior Vice President Louie Granteed, who represented both the seller, Tri-County Development Group, and the buyer, BSD Capital.
Key Details of the Transaction
- Property Location: 4491 S. State Road 7, Davie, Florida
- Property Composition: 41,790 square-foot office building and an adjacent vacant parcel.
- Completion Year of Office Building: 1988
- Buyers: BSD Capital, represented by Principals Sharon Sharaby and Guy Levintin
Granteed’s role was pivotal as he held the exclusive listing for the Broward Corporate Center. "Closing this transaction in a challenging environment for office investment sales required persistence, market knowledge, and strong relationships," Granteed stated regarding the complexities involved.
About the Seller
The property was sold by Tri-County Development Group, headed by Laurence Leavy, a prominent figure known as "Marlins Man" due to his long-standing support for the Miami Marlins. Under his leadership, the group sold the property to 4491 State Rd 7 Holdings, which is part of BSD Capital’s impressive portfolio that includes:
- Retail centers
- Multifamily housing
- Office buildings
- Hotels (both kosher and non-kosher)
- Entertainment venues
- Mixed-use projects
Strategic Location Benefits
The Broward Corporate Center features an advantageous location near the Seminole Hard Rock Hotel & Casino, with easy access to major highways, I-595 and Florida’s Turnpike. This strategic position is expected to catalyze ongoing redevelopment along the State Road 7 corridor, making it a vital asset for future projects.
Exciting Prospects for Buyers
Granteed highlighted the potential for buyers in saying, “The buyer can realize future upside through new leasing, property enhancements, entitlements, and redevelopment. It’s a win-win for everyone.” His familiarity with BSD Capital allows for a seamless collaboration and a visionary approach to the property’s future.
The Expertise of Tobin Real Estate
Tobin Real Estate stands out in the market through its Owner’s Perspective™, leveraging nearly a century of experience in the competitive Southeast U.S. landscape. Some highlights include:
- Proficient in impactful investment sales and lease transactions
- Comprehensive services in development, construction, brokerage, and asset management
- A relationship-first business approach that prioritizes the interests of clients
For additional details and to explore more about Tobin’s extensive services, visit Tobin.
Conclusion
The successful sale of the Broward Corporate Center showcases Tobin Real Estate’s strong market presence and dealer relationships while allowing both seller and buyer to capitalize on their investments. As redevelopment continues in the area, this deal marks a significant step forward for the State Road 7 corridor and the surrounding community.