Midtown Capital Partners has picked up a 143,535 sqf Class A office building in Broward County in a $42 million transaction. The two year old asset, Pembroke Pointe 880, is located at 880 S.W. 145th Ave. in Pembroke Pines, FL. The property features 36,111 sqf floor plates, an upscale lobby and common areas, 5.5 parking spaces per 1,000 rentable square feet and Interstate 75 frontage. The building was 86 percent leased at the time of the sale with notable tenants Global Medical Management, Elizabeth Arden, and CES Consultants. Cushman & Wakefield Capital Markets team represented the seller, Duke Realty in the disposition. Jason Hochman of Cushman & Wakefield’s international Equity, Debt and Structured Finance (EDSF) platform assisted in securing a $22.7 million, long-term acquisition loan on behalf of the buyer with a national life insurance company.
