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Plantation Office Campus Sells for $11.5M

MIAMI-The 124,037-rentable-sf, three-building campus, which sits on 9.4 acres, is mainly occupied by state and county tenants. Procacci Financial Group sold the property to a Southern California-based investment partnership for $93 per sf.

By Melissa Bogdany | Updated on May 28, 2003

MIAMI-A Southern California-based investment partnership has purchased a three-building office campus in Plantation, FL for $11.5 million, or $93 per sf. The property, which consists of 124,037 rentable sf on 9.4 acres, sold at a 10% market capitalization rate.

The seller was Procacci Financial Group, a Florida-based development group. Felici, a senior associate in Marcus & Millichap Real Estate Investment Brokerage Co.’s Fort Lauderdale office and a member of the firm’s National Office and Industrial Properties Group, represented Procacci Financial Group in the transaction.

Andy Sabherwal and Nicholas Scelsa, investment specialists in Marcus & Millichap’s Sacramento, CA office, represented the buyer.

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