Investment Overview

Marcus & Millichap is proud to present for sale 2950 W Cypress Creek Rd., a Class A office building located in Fort Lauderdale Florida. This office building is situated on a 1.9-acre parcel of land (82,764 square feet) and offers 39,704 square feet of rentable space. 2950 W Cypress Creek Rd. was constructed in 1986 and was recently redesigned by the current ownership into a state-of-the-art executive suite office building, which includes a complete renovation, including high-end finishes, elevator modernization, all new bathrooms and common areas as well as a cybercafé. The property has an attractive parking ratio of 4.6 spaces per 1000 feet of rentable area. This is a one-of-a-kind office building that is in high demand by a variety of professionals and service-related companies catering to the community as well as entrepreneurs in the region. Current ownership has been leasing spaces on a weekly basis given the lack of available similar product in this market and many of the tenants are coming from other office buildings in the area. This building provides investors an opportunity to acquire a solid upgraded asset with a strong in place return in excess of seven percent. 2950 W Cypress Creek Rd. has direct frontage on West Cypress Creek Road (NW 62nd Street), a major artery traveling East and West with high traffic counts of over 46,500 Vehicles Per Day (VPD). This asset is strategically located between Interstate-95 and Florida’s Turnpike and next to the Fort Lauderdale Executive Airport, and provides easy access to Downtown Fort Lauderdale, Hollywood, and Pompano Beach. The property is conveniently located near the Uptown Urban Village, a 353-acre project to establish a planning framework to guide future growth in the area by amending the current land use designations to a single land use designation that supports a mix of uses and multi-modal development, along the Cypress Creek Road west of I-95 to the Executive Airport area. This underlying land use will aim to create a multi-modal, walkable, pedestrian-friendly, mixed-use developable area. Envision a revitalized mixed-use community, a redesigned Tri-Rail Station, shops, and restaurants along Cypress Creek Road, all in an urban pedestrian-friendly environment. The community will be a great way to attract employees who wish to live closer to their workplace and enjoy shopping, dining, and entertainment within walking distance. In addition to the close proximity to “The Uptown Urban Village” this asset is also within close proximity to the Cypress Creek Mobility Hub, which is the second-largest commercial district in Broward County, and home to a Tri-Rail Station.