FORT LAUDERDALE, FL-BMC sold its former South Florida corporate headquarters building for $2.5 million, or $85 per square foot. Wood Business Systems acquired the 30,000-square-foot facility.
CBRE Senior Vice President Harry Tangalakis and Senior Associate Tom O’Loughlin represented the buyer. Steve Wasseman and David Wigoda of Jones Lang LaSalle represented the buyer.
“CB Richard Ellis was able to negotiate premium pricing for BMC, Inc. by finding the right buyer who recognized the value associated with the asset and the existing improvements,” says O’Loughlin. “The acquisition by Wood Business Systems takes one of the premier owner user buildings off the market within the Sunrise Submarket.”
Located at 555 Nob Hill Rd. in Sunrise, the class A facility was built in 1996 and offers 16,000 square feet of office space, seven oversized grade level doors, 18-foot ceiling clear height and an 800 amp/440 volt, four-phase electrical service. Wood Business Systems, one of the largest independent digital solutions providers in the United States, plans to use the facility for its corporate office.
Investment sales continued to gain traction in Broward County during the first quarter. According to CBRE, 612,000 square feet of office product exchanged hands in the first three months of 2011. Of course, 489,000 square feet of that total was from Duke Realty’s purchase of Premier Real Estate’s Crossroads Office Portfolio in Plantation, along with one office building in their Park Central business park in Pompano Beach. CBRE predicts investment sales will continue as more buyers are coming off the sidelines.
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