Fairlead Commercial, an Atlanta-based investment group, has acquired the 800 Fairway office building in Deerfield Beach. The four story suburban office building is located at the northern end of Broward County just off I-95. Built in 1987, the 172,508 square foot office space was seventy three percent leased with a mix of national credit and regional corporate tenants in the financial, healthcare, technology and insurance sectors. CBRE represented the seller in the transaction whose terms were not disclosed.
ā800 Fairway offers tremendous upside potential through the lease-up of over 40,000 square feet of vacant space, in-place rents that are below market, and projected market rent growth of close to 40 percent over the next 5 years,ā said CBRE Vice Chairman Christian Lee
