{"id":1004243846,"date":"2018-07-19T04:44:20","date_gmt":"2018-07-19T12:44:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004243846"},"modified":"2022-12-09T02:56:00","modified_gmt":"2022-12-09T10:56:00","slug":"the-green-cos-buys-19m-office-building-in-plantation-fl","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/the-green-cos-buys-19m-office-building-in-plantation-fl\/","title":{"rendered":"The Green Cos. Buys $19M Office Building in Plantation, FL"},"content":{"rendered":"<p>By Tudor Scolca<\/p>\n<div id=\"attachment_1004243852\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Southpointe-e1531990469513.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004243852\" data-attachment-id=\"1004243852\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/the-green-cos-buys-19m-office-building-in-plantation-fl\/southpointe\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Southpointe-e1531990469513.jpg\" data-orig-size=\"1412,1060\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Southpointe\" data-image-description=\"&lt;p&gt;Southpointe&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Southpointe&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Southpointe-e1531990469513.jpg?w=1024\" class=\"wp-image-1004243852 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Southpointe-e1531990469513.jpg\" alt=\"Southpointe\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Southpointe-e1531990469513.jpg 1412w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Southpointe-e1531990469513.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Southpointe-e1531990469513.jpg?resize=768,577 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Southpointe-e1531990469513.jpg?resize=1024,769 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004243852\" class=\"wp-caption-text\">Southpointe<\/p><\/div>\n<p>The Green Cos. has acquired Southpointe, a four-story office building in Plantation, Fla., for $18.5 million. A team of Avison Young brokers facilitated the disposition on behalf of the seller, TA Associates Realty, a company that also recently sold&nbsp;a <a href=\"https:\/\/www.commercialsearch.com\/news\/aztec-group-arranges-6m-financing\/\">77,000-square-foot office building in Tampa, Fla.<\/a>&nbsp;<\/p>\n<p>Southpointe is located at 7901 S.W. Sixth&nbsp;Court, in a high-density submarket which has more than 2 million square feet of Class A office space within a 3-mile radius, according to Yardi Matrix data. The building totals 79,719 square feet of rentable space, with floorplates measuring 20,088 square feet. Leases range from a minimum of 1,102 square feet of divisible space up to 10,037 square feet of contiguous space.<\/p>\n<p>Constructed in 2001, Southpointe received a cosmetic renovation in 2013, under previous ownership. TA Associates Realty completed the disposition after a holding period of 11 years, having acquired the asset in 2007 for $16.3 million. Currently, the building has three vacant spaces, totaling 11,139 square feet.<\/p>\n<p>The area features several shopping malls and restaurants, hotels, motels and entertainment options, all within a few minutes of the Southpointe office building. Major thoroughfares nearby include Interstate 595, Broward Boulevard and State Route 817. The Fort Lauderdale-Hollywood International Airport can be reached in about 15 minutes by car.<\/p>\n<h2>Strong office market<\/h2>\n<p>According to a recent Avison Young&nbsp;report, the Plantation submarket features vacancy rates of about 5.6 percent for Class A office space. Strong positive net absorption along with limited new construction and third-highest rental rates in Fort Lauderdale metro, make Plantation a very coveted area for office real estate.<\/p>\n<p>\u201c<em>The sale of Southpointe at $232 per square foot is a reflection of investor confidence in the western Broward County office market. Location and building quality were important factors in this sale. The Green Cos.\u2019 purchase was a great strategic move to increase their footprint in Plantation\u2019s robust office submarket,<\/em>\u201d said David Duckworth, principal at Avison Young, in a prepared statement.<\/p>\n<p><em>Image courtesy of Avison Young<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The purchase reflects the healthy Broward County market fundamentals. Currently, the Class A office building has three vacant spaces, totaling 11,139 square feet.<\/p>\n","protected":false},"author":1284,"featured_media":1004243852,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1492,21742,21747],"tags":[33022,38048,35026],"class_list":["post-1004243846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-miami","category-latest","category-office","tag-avison-young","tag-ta-associates-realty","tag-the-green-companies"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Green Cos. 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Currently, the Class A office building has three vacant spaces, totaling 11,139 square feet.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/the-green-cos-buys-19m-office-building-in-plantation-fl\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-19T12:44:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:56:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Southpointe-e1531990469513.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1412\" \/>\n\t<meta property=\"og:image:height\" content=\"1060\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tudor Scolca\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/the-green-cos-buys-19m-office-building-in-plantation-fl\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/the-green-cos-buys-19m-office-building-in-plantation-fl\\\/\"},\"author\":{\"name\":\"Tudor Scolca\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/daae3daa7b99fdfb75a85cb3cd92a26d\"},\"headline\":\"The Green Cos. 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