Berger Commercial Realty/CORFAC has arranged the $4.8 million sale of Cypress Creek Center, a 38,700-square-foot Class B office property in Fort Lauderdale, Fla. Maynada Capital Advisors acquired the asset, according to public records. Senior Vice President Steve Hyatt and Vice President Brian Batchelder negotiated the deal on behalf of the seller, Bright Angel Inc. Banesco provided a $3.1 million acquisition loan, according to Yardi Matrix.
Located on roughly 2 acres at 1000 NW 65th St., the three-story structure was delivered in 1997 and renovated in 2018. The new owner plans to take over the property management and leasing responsibilities, as well as upgrade the building’s common areas. Situated close to Powerline Road, the property is 1 mile from the Fort Lauderdale Executive Airport, while the city center is 7 miles away, along Interstate 95.
In January, the brokerage company negotiated a 24,400-square-foot lease at Merrill Industrial Park in Fort Lauderdale. Just Brands consolidated three of its South Florida offices at the new location.