Sale of Cornerstone Corporate Center I closes in Florida

FORT LAUDERDALE, FL, Mar. 31, 2023 – JLL Capital Markets announced today that it has closed the sale of the Cornerstone Corporate Center I in Plantation, Florida.

JLL represented the seller, The AFL-CIO Building Investment Trust, advised by PNC Realty Investors, and procured the buyer, PIR Corner, LLC.

Comprised of 170,172 square feet, Cornerstone I is located on 9.14 acres overlooking exceptional lake and golf course views at 1200 S Pine Island Road. The Class A, 80% leased multi-tenant asset is perfectly situated at a key access point to the vibrant community of Plantation, with proximity to I-595 and Fort Lauderdale. Cornerstone I boasts high-quality tenancy including Marriott International, Morgan Stanley and MetLife. The Property features a covered parking deck, a recently renovated gym, a café and access to numerous nearby restaurants and amenities.

The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Director Hermen Rodriguez, Managing Director Ike Ojala, Senior Director Matthew McCormack, Associate Max Lescano and Analyst Blake Koletic.

“Even today with rising interest rates, well-located, suburban office buildings have significant investor demand in South Florida,” said Rodriguez.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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