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110 East Broward accounts for 72.0 percent of Class B vacancy in Downtown Fort Lauderdale

  • ​Currently, the average full service asking rent among Class B properties is $34.26 per square foot and the average vacancy is 22.3 percent. 

  • The 110 East Broward building sold for $41.1 million in early 2018 when Stockbridge Capital Group purchased it through auction. The new owners, which took ownership of the 342,500 square foot building at just 42.2 percent leased, will likely put millions into building infrastructure and cosmetic improvements as well as specific tenant improvements to lease up the building. This property, which had been in large part non-competitive in recent years should experience a shift in the tides and compete on some of the larger deals touring Downtown and the rest of the county. The building accounts for 72.0 percent of the Class B vacancy Downtown and is home to the largest direct block of space available in the county with 104,000 square feet of contiguous space. 

  • In terms of new development, the 550 building south of the river is still in the pipeline and expected to begin construction in the near-term although an exact timeline has not recently been released. The 98,600 square foot building is owned by Blackhawk Properties & Investments. 

Source: JLL Research

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