However, in that transaction, Fifteen Group acquired Sawgrass Technology Park, which at the time was described as a 12-building complex on 63 acres that totaled 645,000 square feet.

The property was originally construction in 1985 as the Racal-Milgo world headquarters.

“The acquisition of Sawgrass Technology Park presents a rare value-add opportunity in a high-growth urban-suburban market featuring walkable amenities and robust employment growth,” says Kelly Kuykendall, director, asset management for Bridge Investment Group. “With limited speculative development in the region and no new construction occurring within the Sawgrass Park submarket, we anticipate favorable conditions for rent growth and long-term asset value increase in the years ahead.”

Sawgrass Technology Park is located at the entrance to the 612-acre Sawgrass International Corporate Park. The Sawgrass Park submarket currently has the lowest office vacancy rate in Broward County at 5.3%.

The property is also located near the soon-to-be completed $1.5-billion Metropica development, 65-acre mixed-use project that will feature 500,000 square feet of restaurants, bars and high-street retail, more than 2,200 residential units and a 240-room luxury boutique hotel. The campus is also in close proximity to Sawgrass Mills Mall and is within a five-minute drive of 62 restaurants and bars, more than 500 hotel rooms, nearly 300 retail shops and two movie theaters.

Bridge Commercial Real Estate, the operating company for Bridge Office, will oversee all leasing, property management and redevelopment work at STP. Leasing will be led by Deanna Lobinsky of Cushman and Wakefield.

Earlier this year, affiliate Bridge Seniors Housing Fund Manager LLC acquired nine senior housing properties in the Southeast.