Seagis senior associate Peter Crovo handled the transaction. "This acquisition marks our first purchase in Broward County, and together with our 28 buildings in Dade County, brings our South Florida portfolio to 2.1 million sf," Crovo says.

The property is 100% leased to three tenants. Seagis principal Charles Lee tells GlobeSt.com that the company has been looking to expand its South Florida portfolio into Broward County. "This is a class A building that is well suited to mid-range and larger tenants," Lee says. "It's in a terrific location."

Lee says the building is relatively new and in good condition, so the company does not anticipate making major capital improvements. He adds that the company plans to make more acquisitions throughout Broward County. "This is the first in what we hope we will several acquisitions in the coming months," he says.