WESTON, Fla., June 1, 2015 (GLOBE NEWSWIRE) -- President Ken Morris, SIOR, RPA of Morris Southeast Group (www.morrissegroup.com) announced the sale of 700 Sawgrass Corporate Parkway in Sunrise, Florida, for $6,020,000, or nearly $134 per-square-foot for the 45,000-square-foot building.
The seller in the deal was MPSS, LLC and the buyer is an owner/occupier, OT Investments LLC.
The price is believed to be a high watermark for flex-industrial building sales this year. Morris was the only broker involved.
Constructed as a build-to-suit for a lighting design and manufacturing company just 14 years ago, the building has a mix of offices, showroom space, reception area and light assembly all under one roof. The property is on 3.7 beautifully landscaped acres.
"This is an incredibly unique building with a corner location and within one of the premier business parks in South Florida, so I am not surprised that we were able to get a good price for the property," said Morris.
The property is close to I-595, I-75 and the Sawgrass Expressway.
Morris was more than familiar with the property before he listed it for sale. He was the broker that represented the original build-to-suit tenant that had the building constructed 14 years ago. That company, Martin Professional, occupied the building until recently downsizing after a merger with Harmon Industries, based in Indiana.
About Morris Southeast Group
For more than 35 years, Morris Southeast Group has been recognized as one of South Florida's leading providers of commercial real estate services. Located in Weston FL, Morris Southeast Group is a full-service firm specializing in owner and tenant representation, corporate services and investment sales in the office, industrial and retail sectors throughout Miami-Dade, Broward and Palm Beach Counties.
For more information contact President Ken Morris at (954) 474-1776 or visit www.morrissegroup.com.