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TIC Investor Pays $26M for Cypress Creek Office Buildings

FORT LAUDERDALE, FL-Boston-based tenant-in-common investor, Cabot Acquisition, pays nearly $11.3 million for Zimmerman Corporate Center on W. Commercial Boulevard and $14.3 million for Trafalgar Plaza on NW 33rd Avenue.

By Marita Thomas | Updated on December 14, 2005

(To read more on the TIC market, click here.)

FORT LAUDERDALE, FL-Cabot Acquisition LLC, a Boston-based tenant-in-common investor, has paid just under $25.6 million for two office buildings in the Cypress Creek submarket. They are the three-story Zimmerman Corporate Center at 2200 W. Commercial Blvd. and the two-story Trafalgar Plaza at 5300 NW 33rd Avenue.

Zimmerman Corporate Center is a 68,903-sf building that was constructed in 1984 and is currently 97% leased. The seller, identified as Avion Corporate Center LLC, got a price of $163 per sf. Trafalgar Plaza LLC obtained $145 per sf for its 98,602-sf building, which was constructed in 1985 and is 87% occupied.

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