Sawgrass Village is a two-building office campus that totals more than 112,000 square feet.
SUNRISE, FL—MG3 Realty, L.L.C. has acquired the two-building fully-leased Sawgrass Village office campus here for $32.65 million.
The deal for the 112,456-square-foot complex, which was reported by commercial brokerage firm Cushman & Wakefield, calculated out to $290-per-square-foot.
The Cushman & Wakefield Capital Markets team of Dominic Montazemi, Mike Davis, Greg Miller, Scott O'Donnell, Miguel Alcivar, Rick Brugge, Rick Colon and Michael Ciadella represented a global investment advisor in the disposition of the property.
Jason Hochman of Cushman and Wakefield's Equity, Debt and Structured Finance Group, assisted MG3 Realty, L.L.C. in securing a $21.25-million acquisition loan from Citigroup in connection with the acquisition.
The buildings were 100% occupied at the time of sale by Comcast and Bolton Medical.
Sawgrass Village consists of two single-story office buildings developed in 2000 on an 11.33-acre site at 789 and 799 International Parkway in Sawgrass International Corporate Park, a 612-acre master planned office park with more than 3 million square feet of office and industrial space.
The park is bordered by the Sawgrass Expressway, Interstate 75 and Interstate 595, offering access to Fort Lauderdale-Hollywood and Miami International Airports.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
