The Bank of America-anchored Las Olas City Centre office building in Fort Lauderdale has changed hands in a $220 million deal. Picked up by an affiliate of Deutsche Bank’s asset management division, the 725,898 sqf building was built in 2003 on a 2.5 acre site. JPMorgan Chase Bank sold the asset on behalf of pension funds for just over $303 per sqf. The office tower last sold in 2011 for $163.7 million and was financed with a $100 million mortgage provided by Wells Fargo Bank. Besides Bank of America, the asset houses Boies Schiller, Greenberg Traurig, Patriot National Insurance, Farlie & Turner Investment Bank, One Sotheby’s International Realty and Gray Robinson P.A. Retail components in the building include Grill 401, Subway, Offerdahl’s, Tease Salon, SuViche, Smoothie King, and the UPS Store.
