Stiles Realty Brokers $4.8 Million Sale of Former Harley Davidson Retail Store in Fort Lauderdale
Posted on 5/27/2015Stiles Realty, a division of Fort Lauderdale-based full-service commercial real estate developer Stiles, announced today the sale of the former Harley Davidson headquarters located at 2871 North Federal Highway in Fort Lauderdale. The $4.8 million sales price equates to $106.67 per square foot.
The approximately 45,000-square foot showroom featuring warehouse and office space fronts US1 with an average of 46,000 cars per day. The showroom was the largest vacant "big box" storefront in the Coral Ridge retail corridor. Stiles Realty Broker Associate Kimberly Barbar represented the seller, Rossmeyer Fort Lauderdale Motorcycle, LLC. Barbar has also been retained to lease the property for buyer 2201 Wynwood LLC. No other brokers were involved in the transaction.
"With 200 feet of direct frontage on US1, the Harley Davidson store benefits from a highly visible location within Fort Lauderdale's premier retail corridor, which includes Target, Publix, Bed Bath and Beyond and Best Buy," said Barbar. "Featuring retail and warehouse space, the showroom has been impeccably maintained and remains turn-key ready for a single-use tenant."
This is the second single-tenant property sale Barbar has executed in the last month that has resulted in her retaining the leasing representation. Most recently, Barbar was retained after completing the $21 million sale of 2100 Cypress Creek Road, an 185,000-square foot office property in Fort Lauderdale. That transaction represented the largest single-tenant vacant building sale in the Cypress Creek submarket in the last five years.
According to Barbar, the showroom, with its open layout, is a unique opportunity for any clothing retailer to be in business immediately in this highly desirable area. "Because of its vertical design, the Harley Davidson property offers significant signage opportunities on US1, an area where very few retail opportunities of this size remain," commented Barbar.
Barbar noted that the asset's location in an affluent neighborhood, with average income of $77,129 for residents within a one mile radius, made it a highly attractive investment for the buyer.
"The retail area in north Fort Lauderdale couldn't be better," said Barbar. "This particular market is only becoming more active as new retailers enter and residential housing is further developed. There are simply very few opportunities on the market with this kind of visibility and space," she added.
Stiles is a full-service commercial real estate firm with a clear mission: Invest. Build. Manage. Stiles services include development, construction, tenant improvement, realty, property management, architecture, acquisitions and financing. Headquartered in Fort Lauderdale, Stiles maintains regional offices in Miami, Fort Myers, Tampa and Orlando, Florida, and has a development office in Charlotte, North Carolina. Stiles is responsible for more than 43 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States. For more information, please visit http://www.stiles.com or call 954-627-9300. For leasing inquiries, please contact Stiles Realty at 954-627-9400.