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Liberty Property Plans Class A Facelift for 102,000-SF Purchase

FORT LAUDERDALE, FL-The Philadelphia-based real estate investment trust is planning a major renovation of the 102,000-sf, six-story building here to bring it to class A office space. The property has been vacant since 2001.

By Melissa Bogdany | Updated on July 14, 2003

FORT LAUDERDALE, FL-Liberty Property Trust, a large national real estate investment trust, has finalized its multimillion-dollar purchase of the Broward Trade Centre located here and plans extensive renovations to bring the property to class A space.

Broward Trade Centre is a 102,000-sf, six-story office building located at 200 W. Cypress Creek Rd. in the Cypress Creek submarket. The seller was Trade Centre Associates Ltd. Partnership, a large institutional investor based in Delaware. Lee Wheeler of Codina Realty Services represented Trade Centre Associates Ltd. Partnership in the sale. The sale closed July 9.

“This purchase represents Liberty Property Trust’s confidence that the Cypress Creek office market will once again emerge as the leading corporate market within Broward County,” Mitchell Millowitz, a senior director of office brokerage for Cushman & Wakefield locally, says in a statement. Millowitz represented Liberty Property in the transaction.

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