Search
 

Tide Changes for Vacant Northport, Sells for More Than $6M

FORT LAUDERDALE, FL-Portside Yachting Center LLC bought out the property, which has been vacant for 3 = years. The buyer, headed by Andrew Martin, paid $6 million to $7 million and is repositioning the failed retail/entertainment property into a maritime specialty center.

By Melissa Bogdany | Updated on July 21, 2003

FORT LAUDERDALE, FL-Northport Marketplace, a 77,000-sf building here that has been vacant for 3 ½ years, has been sold and is being repositioned as a maritime specialty center.

Portside Yachting Center LLC paid between $6 million and $7 million for the property in Broward County. The buyer is headed by Andrew Martin, a local retail developer and investor. Plans call for the center to have a special focus on yachting and related businesses.

Located on 17 Street Causeway, adjacent to the Broward County Convention Center, the building sits on 3.89 acres. The property is leased from Broward County for 99 years with 90 years left. The buyers purchased the lease, according to J. Brett Houston, a broker involved in the deal, and the building should be back in business soon.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.