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Feldman Equities Buys Fort Lauderdale Offices for $59M

Feldman Equities bought the Pinnacle Corporate Park office complex in Fort Lauderdale for $58.9 million.
The Tampa-based investor bought the two buildings at 500 and 550 West Cypress Creek Road from a fund managed by DRA Advisors in joint venture with Banyan Street Capital, according to a news release. The deal breaks down to $226 per square foot. Brokers for the seller said it ranks as the highest price per square foot in Fort Lauderdale’s Cypress Creek submarket over the past decade.
Avison Young’s John Crotty and David Duckworth represented the seller in the deal. They credited the sale’s high value to their marketing of the parking lot as developable. ....

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Banyan Street Capital Buys Weston Office Complex for $52M

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Banyan Street Capital buys Weston office complex for $52M
Seller renovated property after buying it in 2015 for $25M
Miami /
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Banyan Street Capital CEO Rudy Prio Touzet and KBS CEO Charles Schreiber Jr. with Weston Corporate Center (KBS)
UPDATED: MAY 12, 9 a.m.: Banyan Street Capital bought the renovated Weston Corporate Center for $52.25 million.
Office investor Banyan Street Capital in a joint venture with Independencia Asset Management, both based in Miami, bought the two-building complex at 2500 Weston Road and 2700 South Commerce Parkway from Newport Beach, California-based KBS, according to a news release. ....

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