Located at 1000 Sawgrass Corporate Parkway in Sunrise, the office property was sold by an institutional investor. The property is 96% leased to 17 tenants with a remaining weighted average lease term of more than five years. The office park is the regional headquarters to several blue-chip companies, including Ford, Fidelity Information Systems, AT&T, American Express, Harris Corporation, Xerox and Ticketmaster.

“Sawgrass Pointe I is located in South Florida's largest office park, Sawgrass International Corporate Park, which is strategically bounded by the Sawgrass Expressway, Interstate 75 and Interstate 595,” says Lobón. “Being at the nexus of three major South Florida roadway systems offers the business park unmatched access—an estimated 5.6 million people, more than 90 percent of South Florida's population, live within a 60-minute commute.”

Market fundamentals in greater Broward County are strong, with positive net absorption and vacancy declining continuously over past six years. Broward's unemployment rate of 3.3% as of October 2017 is the lowest in South Florida, despite robust population growth. The Sawgrass Park submarket has been exceptionally strong. Vacancy has averaged in the single digits over the past six years and currently sits at just 7.6%.

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