Part of former Motorola office park in Broward sells for $57M

Part of the Plantation Pointe Office Park, formerly a Motorola facility, was sold for $56.6
million.

The 215,744-square-foot buildings at 7600 to 7700 W. Sunrise Blvd and the parking lot at
7510 W. Sunrise Blvd. were sold by 800 West Sunrise Lots B1-2 LLC, an affiliate of Northbrook, Illinois-based Torburn Partners. The buyer was Plantation Pointe Office Holdings, an affiliate of Miami-based Midtown Capital Partners, which manages many for investors. The buyer secured a $31.13 million mortgage from Hartford Fire Insurance.

The price equated to $262 per square foot.

The deal covered 17.44 acres of land. The business park was developed in 1971, but it was recently renovated by Torburn Partners. Sheridan Healthcare is one of the biggest tenants there.

The deal does not include the buildings at 7500 and 8000 W. Sunrise Blvd., which Toburn Partners still owns. Rapidly hiring technology firm Magic Leap is a tenant in 7500 W. Sunrise Blvd.

Alejandro Velez