Feldman Equities Acquires Fort Lauderdale Office Park For $59 Million

Feldman Equities has chosen up a two-building office lot in Fort Lauderdale with funds raised from retail investors on CrowdStreet.

The property, placed in Fort Lauderdale’s Cypress Creek submarket, sold for $58.9 million, Avison Youngs Florida Capital Markets Group stated.

Pinnacle Corporate Park, located at 500 and 550 West Cypress Creek Road, adds 259,458 Sq Ft on 14 acres. At $226 per Sq Ft, the sale serves the highest price for a Cypress Creek office lot in the past decade.

The seller is a fund operated by DRA Advisors in a joint venture with Banyan Street Capital. The buyer is Pinnacle Corporate Park LLC, an entity managed by Feldman Equities of St. Petersburg, Florida.

Feldman Equities’ first deal is in South Florida, and the new owner aims to invest around $3 million in restorations.

Avison Young Principals John K. Crotty and David Duckworth led the sales team.

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