FORT LAUDERDALE, FL—What was old has become new again for Steelbridge Capital. The Miami- and Chicago-based real estate investor has purchased Cypress Financial Center for a second time. The sale price was $32.55 million.
Cypress Financial Center is the area's iconic office asset—and its sale is a key indicator that investor demand in this in-fill suburban market is strong. The 11-story, 198,528-square-foot class A office building sits on Interstate 95 at Cypress Creek Road in Fort Lauderdale, FL.
“We've always like this building's unique location on I-95 and in fact had owned it previously in the 1998-2006 time period," Gavin Campbell, managing principal at Steelbridge, tells GlobeSt.com. “When the opportunity presented itself to buy it again below our 1998 price we decided to proceed. “
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