Galleria Corporate Center - Retail Portfolio Sale
Retail Portfolio Sale
Marketing description
This ground floor retail space is available for sale and offers a total of 7,828 square feet, with 5,778 square feet currently vacant for immediate buildout. The vacant portion is restaurant capable, with one of the units including a walk-in cooler, access to a 1,500 gallon grease trap, a currently inoperable gas line, and convenient double-door main entry access. The other units have a mezzanine above a secure bank vault, and wide open space.
The remaining 2,050 square feet comprises two retail units, currently occupied by an art gallery and a cafe. The cafe’s lease expires in February 2025, and the art gallery has a 60 day cancellation clause in their lease. The layout allows for the possibility of removing two interior walls to create one contiguous space, making it suitable for a variety of uses, including a restaurant, gym, showroom, or large retail operation. There is tremendous upside potential for a new owner to lease out the units at current market rate, or occupy all or some of them.
The condo dues here include management, maintenance, reserves, building valet during business hours, and property insurance. The new owner would also be responsible for the property taxes for the units (est at $3.95 psf), utilities, and internet.
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Investment highlights
Level Realty is pleased to present the opportunity to purchase available condo units at the Galleria Corporate Center (GCC). GCC consists of a 168,807 SF, Class B, multi-tenant office building located in the rapidly growing MSA of Fort Lauderdale, FL. The diverse mix of waterfront residential, name brand retailers, coastal access, and proximity to multiple redevelopment projects makes the Galleria Corporate Center a prime location for any business owner or investor looking to purchase an appreciating asset. GCC is ideally located on East Sunrise Blvd, in Fort Lauderdale’s upscale Coral Ridge neighborhood. The adjacent lot is to be a mixed-use project, consisting of 180 multifamily units, 4,400 square feet of restaurant, 1,350 square feet of retail, and 5,750 square feet of office.
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