Tarpon Bend Press Release (RR Contacts)

RISE REALTY - RESPECT. INTEGRITY. SERVICE. EXCELLENCE.

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RISE REALTY FACILITATES1031 EXCHANGE FOR $5.9 MILLION DOWNTOWN FORT LAUDERDALE ACQUISITION

INVESTOR PURCHASES ICONIC BUILDING INOLD TOWN SQUARE

KEITH DARBY

President

305.720.7925[email protected]

Rise Realty

200 S. Biscayne Blvd., Suite 300

Miami, FL 33131

www.riserealty.comPress Contact:Rachel [email protected] 

MIAMI - August 12, 2015 - Rise Realty, a commercial real estate brokerage and advisory firm, today announced the sale of the downtown Fort Lauderdale, two-story, 11,312 square foot property located at 200 SW 2nd Street.

Rise Realty was engaged in June 2015 to identify, assess and acquire a stable asset that met the 1031 investor’s specific criterion. The brokerage completed the assignment in a limited time frame and closed the sale on Friday, July 31, 2015.

“Our goal is to find the best possible solution and provide exceptional service and value along the way. This deal is a testament to our methodology as we were able to quickly identify and negotiate terms on the property that met our buyers strict specifications with a strong rate of return,” says Darby. “Most importantly, our client is pleased with their new acquisition and stands to significantly gain from their investment.”

This acquisition sets a new precedent for market rates in the area, as the $5.9 million purchase price exceeds the appraised value. The property houses tenants and local favorites, Tarpon Bend, Sushi Song, and Tacocraft Taqueria & Tequila Bar, among others. This area can expect to see continued growth as nearby housing development expands and more residents are drawn to the city’s retail offerings.

About Rise Realty

Rise Realty is a commercial real estate brokerage and advisory firm with services such as owner representation, tenant representation, investment sales, and project services for office, industrial, and retail properties. The firm’s professionals leverage the industry’s most advanced market information and research sources and combine their experience representing clients on both sides of transactions – tenants and owners/developers – with their ability to provide innovative, practical solutions and strategic counsel to their clients. Rise Realty professionals have significant expertise in office and industrial space selection, property lease-up, land assemblage, building sales and acquisitions, general development, building construction, and real estate financial services. For more information, visit www.riserealty.com.

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