Cushman & Wakefield Negotiates Sale of Six-Building Medical and Office Campus in Broward County to Triarch Capital Group
March 8, 2019
Miami Lakes and Plantation, Fla. – The Kislak Organization sold Plantation Professional Park, a 63,319-square-foot medical and professional office campus in Broward County, for $11.3 million.
“As a lifelong Plantation resident, I took special pride in working with the Kislak team to revitalize and lease up Plantation Professional Park,” said Tom Bartelmo, president and CEO of the Kislak Organization. “This was a successful project for us, and we wish the new owners all the best.”
The Cushman & Wakefield Capital Markets team of Greg Miller, Scott O’Donnell, Dominic Montazemi and Miguel Alcivar represented the Kislak Organization in the sale to Triarch Capital Group, based in Aventura, Florida.
In 2016, the same Cushman & Wakefield team negotiated Equitrust Life Insurance Company’s disposition of Plantation Professional Park to the Kislak Organization for $5.15 million.
Plantation Professional Park is a six-building office campus built between 1987 and 1989 on a ±7.84-acre site at 6710–6834 West Sunrise Boulevard in Plantation, Florida. The single-story buildings comprise a medical and professional office campus located three miles from Westside Regional Medical Center. The site also includes a vacant pad previously approved for an additional two-story, ±22,000-square-foot medical office building.
In 2017, the Kislak Organization completed a $1.59 million renovation program at the property that included new roof overlays and mansards, exterior paint and pavement improvements. Kislak increased the occupancy rate of Plantation Professional Park from 63 percent at the time of acquisition to 96 percent at the time of sale.
The Kislak office portfolio includes the Kislak Building in Miami Lakes, Florida; the Bank of America Plaza at 1776 North Pine Island Road in Plantation, Florida; and Rockland Harbor Park in Rockland, Maine. Kislak is a national real estate investment firm headquartered in Miami Lakes, Florida, and is actively seeking additional value-add office opportunities in South Florida.