The per-sf price represents one of the highest tags to date for an office asset in Broward County, according to GlobeSt.com research.
For Citrix, the acquisition is timely as the high-tech firm expands its operations and work force. Citrix occupies 34,155 sf in the five-year-old, 140,411-sf Cambridge Executive I. The company will be leasing the entire 140,778 sf for an undisclosed term and rent in the newly completed Cambridge Executive II.
"The purchase met the long-term occupancy objectives of Citrix and represented a good exit for Lincoln Property and TMW which sold the two buildings as a package," Jay M. Caplin, senior director, Cushman & Wakefield financial services group, Miami, says in a prepared statement. Caplin and John F. Bell represented the sellers.
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