A large office building in Sunrise was recently sold for $36.5 million, which is significantly less than its previous sale price of $57.4 million six years ago.
According to the South Florida Business Journal, Accesso purchased Sawgrass Lake Center for the reduced price. The property features a six-story office building with 239,373 square feet of space and includes a five-level parking garage and surface lot. Accesso’s purchase was financed by a loan worth $21 million from Kawa Capital.
The previous owners were Foundry Commercial and American Realty Advisors who acquired the property in March 2018 for $57.4 million. They were represented by CBRE agents Christian Lee, Sean Kelly, Tom Rappa, and Mathew Lee during the sales transaction.
The building offers various amenities such as a fitness center, yoga studio, tenant lounge area conference center,and grab-and-go cafe on-site.Tenants currently occupying space include AT&T Inc., GoVine Insurance,Watches of Switzerland,and Steven Douglas.
This distressed sale is not uncommon in this region as another property called One Town Center located in Boca Raton was bought for $99.5million last year but then sold again just months later at only$82million.
