Lincoln-TMW Sells Twin Office Buildings for $196 per SF

MIAMI-Citrix Systems Inc., a 13-year-old, Fort Lauderdale, FL-based software manufacturer, has picked up twin class A office properties from Dallas-based Lincoln Property Co. and Atlanta-based TMW Real Estate Group for $55.1 million or $196 per sf.

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.