The owner of a 170,172-square-foot office building in Plantation, Florida recently secured a $30.2 million bank loan to refinance their property known as Cornerstone I. This Class A office building is located on 9.14 acres overlooking a lake and golf course at 1200 S Pine Island Road and is currently leased to various tenants.
In 2023, the Brookdale Group purchased the property for $38 million. The transaction was facilitated by CBRE’s Amy Julian and Andrew Chilgren.
Cornerstone One benefits from its location in the Midtown Plantation Development District which has seen recent growth with over 3,900 multifamily apartments and new retail space totaling over 350,000 square feet added nearby. Additionally, it is conveniently situated near major roadways in Broward County.
Brookdale plans to make improvements such as renovating the lobby area, creating move-in ready spec suites for potential tenants’ convenience,and upgrading outdoor patios at Cornerstone One.
