Robert Given, Zachary Sackley Negotiated the Sale of Stiles Corporation’s ±1.92-Acre Core Site to Developer Greystar
FORT LAUDERDALE, FL, May 4, 2017 — The South Florida Multifamily Team led by Cushman & Wakefield Vice Chairman Robert Given, formerly with CBRE, Inc., announced today that it has negotiated the sale of 790 East Broward Boulevard, a ±1.92-acre multifamily site in Fort Lauderdale’s central business district.
Given, along with Executive Managing Director Zachary Sackley, represented a partnership affiliated with Fort Lauderdale-based Stiles Corporation in the disposition. Greystar GP II, LLC, a partnership affiliated with Charleston, SC-based Greystar, acquired the land.
790 East Broward Boulevard comprises three separate parcels. It includes a 25,925-square-foot office building, parking lot and a five-lane, drive-through teller.
790 East Broward Boulevard is located near the center of Fort Lauderdale’s burgeoning CBD at the southwest corner of Broward Boulevard and SE 8th Avenue. The site offers exceptional access to Interstate 95 and Interstate 595 as well as the Fort Lauderdale-Hollywood International Airport and Port Everglades.
The City of Fort Lauderdale recently approved the site for a 25-story residential development with 329 apartment homes and 6,871 square feet of ground-floor retail space.
“This site is steps from Las Olas Boulevard, the main entertainment and business corridor of downtown Fort Lauderdale,” said Given. “With the recent development on SE 8th Avenue and the resulting street activation, the Greystar development site will stand as the entryway into the heart of the Las Olas corridor.”
“Fort Lauderdale is in the midst of an urban revival with multiple public and private development projects,” added Sackley. “Within Fort Lauderdale, new multifamily development will transform the CBD.”
Greystar currently operates four luxury apartment communities in Fort Lauderdale, including Blue on Marina Boulevard, The Queue, Solmar on Sixth and Elan 16Forty.
About Greystar
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development and property management of rental housing properties globally. Headquartered in Charleston, South Carolina with offices throughout the United States, Europe, and Latin America, Greystar is the largest operator of apartments in the United States, managing over 400,000 units in over 150 markets globally. Greystar also has a robust institutional investment management platform dedicated to managing capital on behalf of a global network of institutional investors with nearly $16 billion in gross assets under management including more than $7 billion of developments that have been sold or are underway. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world class service in the rental housing real estate business. To learn more about Greystar, visit www.greystar.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.
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