“With numerous apartment projects and a new mid-rise office building planned south of the New River, investors and business owners have become more bullish on the area,” Belt tells GlobeSt.com. “Similar to the success we've seen in Flagler Village, people see opportunity in Downtown Fort Lauderdale.”

Holding and Belt represented Black and Smith Partners in its sale of a 1,940-square-foot office building at 2870 East Oakland Park Boulevard to a private party. The building traded for $613,000, or $316 per square foot. The East Fort Lauderdale office building is less than one mile from Fort Lauderdale Beach, and provides signage along heavily-trafficked Oakland Park Boulevard.

Finally, the duo represented Wynn Builders & Contractors in its purchase of a 2,691-square-foot office building at 2004–2008 NE 49th Street from EVB Investments & Property Management. The building traded for $608,000, or $225 per square foot. Wynn is relocating from its currently location at 3038 North Federal Highway.

“We're seeing a tremendous amount of investor interest in free-standing office space as the downtown Fort Lauderdale office market tightens,” Holding tells GlobeSt.com. “Owning has become a viable option in light of escalating rents.”

As tenant demand continues to outpace supply, Cushman & Wakefield continues to document the tightening of the Broward County office market. “Tenant interest increased in the first quarter, with many searching for large blocks of space that are not available in the market, especially in the highly sought after Downtown Fort Lauderdale CBD submarket,” wrote senior research analyst Valerie Tatum in the firm's recently-released first quarter 2016 Broward County Office MarketBeat Report. “Smaller tenants were also active in the 2,000 to 20,000 square foot range.”

MIAMI—Four freestanding office buildings in Fort Lauderdale have traded hands. The combined value is small but the deals mark a trend in the local industry.

Cushman & Wakefield executive director Jeff Holding and director A.J. Belt brokered the sale of three buildings and the purchase of another totaling 10,837 square feet. The combined value of nearly $2.5 million.

Holding and Belt represented a private party in the sale of 107 Southwest 6th Street to the Pilgram Group. The 2,330-square-foot office building sold for $665,000, or $285 per square foot. The building was completely renovated in 2009.

The duo also represented AMI Global Real Estate Holdings in the sale of 111 Southwest 6th Street, also to the Pilgram Group. The sale of the 3,916-square-foot office building was valued at more than $1 million, or $274 per square foot. Both office buildings have signage on Southwest 6th Street and access to the Broward County Courthouse, Publix Supermarket, New River Yacht Club Apartments and the Marina Lofts mixed-use development.

“With numerous apartment projects and a new mid-rise office building planned south of the New River, investors and business owners have become more bullish on the area,” Belt tells GlobeSt.com. “Similar to the success we've seen in Flagler Village, people see opportunity in Downtown Fort Lauderdale.”

Holding and Belt represented Black and Smith Partners in its sale of a 1,940-square-foot office building at 2870 East Oakland Park Boulevard to a private party. The building traded for $613,000, or $316 per square foot. The East Fort Lauderdale office building is less than one mile from Fort Lauderdale Beach, and provides signage along heavily-trafficked Oakland Park Boulevard.

Finally, the duo represented Wynn Builders & Contractors in its purchase of a 2,691-square-foot office building at 2004–2008 NE 49th Street from EVB Investments & Property Management. The building traded for $608,000, or $225 per square foot. Wynn is relocating from its currently location at 3038 North Federal Highway.

“We're seeing a tremendous amount of investor interest in free-standing office space as the downtown Fort Lauderdale office market tightens,” Holding tells GlobeSt.com. “Owning has become a viable option in light of escalating rents.”

As tenant demand continues to outpace supply, Cushman & Wakefield continues to document the tightening of the Broward County office market. “Tenant interest increased in the first quarter, with many searching for large blocks of space that are not available in the market, especially in the highly sought after Downtown Fort Lauderdale CBD submarket,” wrote senior research analyst Valerie Tatum in the firm's recently-released first quarter 2016 Broward County Office MarketBeat Report. “Smaller tenants were also active in the 2,000 to 20,000 square foot range.”