ICM Realty has purchased the Cypress Executive Center in Fort Lauderdale for $10.9 million. The six story office center was sold by Praedium Group of New York at a putative $4 million loss, having paid $14.5 million for the property in 2006. Located across the street from the Fort Lauderdale Executive Airport at 1901 Northwest 62nd Street the 150,995 square foot building was built in 1988 and sits on a 9.9 acre site. Calgary-based ICM Realty opened a Delray Beach office in August and manages more than $400 million worth of properties.
