17th Street Assemblage
100% Leased Office Portfolio | Future Development Potential
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire the 17th Street Assemblage (“the Opportunity”, “the Assemblage”), a 2.59-acre assemblage with 65,618 square feet of office located on the vibrant 17th Street Corridor in Fort Lauderdale, FL. The existing properties are 100% leased to two tenants and consist of two buildings, the 1600 and 1550 Buildings, being offered fee-simple and 4 office condominiums located in a third building, the 1510 Building. The Assemblage also includes the vacant 0.66-acre land site at 1540 17th Street, home of the famous Resolve Anchor.
With its strategic, port-adjacent location along Fort Lauderdale’s most important artery for tourism, the 17th Street Assemblage offers tremendous potential for future redevelopment. This Opportunity is available at a significant discount to replacement cost and offers potential investors strong in-place cash flow coming from two tenants, Princess Cruise Lines and Denison Yachting, who have invested heavily into mission critical locations at their respective properties.
Investment highlights
•100% LEASED OFFICE PORTFOLIO to Two Tenants, Princess Cruise Lines (52,837 RSF; LXP: 12/2028) and Denison Yachting (12,781 RSF; LXP: 5/2033)
•STRATEGIC PORT EVERGLADES-ADJACENT LOCATION Caters to Tenancy in the Marine and Tourism Industries and Offers a Unique Value Proposition
•THE 17TH STREET CORRIDOR’S REVITALIZATION AND GROWTH CONTINUES with the Completion of the Broward County Convention Center Expansion and the 801-Room OMNI Hotel
•FUTURE MARK-TO-MARKET OPPORTUNITY as In-Place Rents are Significantly Below Market
•POTENTIAL FOR FUTURE REDEVELOPMENT on the 2.59 Acres Site in Line with Recently Proposed Live Local Projects Along 17th Street, Currently Zoned B-1
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