MIAMI—Executive University Courts, a 102,120-square-foot class B office complex in Lauderhill, FL, traded for $5.3 million. 4300 Lauderhill LLC, which purchased the property just two months ago after foreclosure, sold the office asset to KAS Partners LLC.

CBRE represented both the buyer and the seller. KAS chose to retain CBRE to lease the property, which is located at 4300 North University Drive.

“Despite a history of high occupancy, Executive University Courts was only 62% occupied at the time of sale as a result of a long foreclosure process,” says Scott O'Donnell, senior vice president with CBRE's Private Capital Group South Florida Commercial Team. “However, as one of only two significant office assets in this submarket, the buyer recognized the potential for appreciation and opportunity to add to an existing office portfolio.”