BlueGate Partners, LLC has been exclusively retained by the owner (the “Owner”) regarding its sale of the fee simple interest in a commercial condominium encompassing the bottom four floors of 1720 Harrison Street, a condominium building located at the southeast quadrant of Young Circle and U.S. Highway 1 in Hollywood, Broward County, FL (“1720 Harrison” or the “Property”). The Property, which is currently vacant and undergoing an extensive structural and exterior renovation, was formerly the Hollywood Academy of Arts and Sciences, a charter school which relocated to an adjacent Property.
The Property totals 45,000 square feet (“sf”’) over four 11,250 sf floors. 1720 Harrison, which was built in 1964 and is undergoing its 2nd major renovation in the last 15 years, features a number of desirable structural details including 20-foot ceilings on all floors; floor-to-ceiling windows on the first, third and fourth floors; balconies on the third and fourth floors; and, uninterrupted views of the Intracoastal Waterway and Atlantic Ocean to the east, northeast, and southeast.
The Site is currently zoned Planned Development Young Circle District (“YC-B58”) by Hollywood. The zoning is a “catch-all” zoning allowing a large number of commercial, office, medical office, retail, educational, and limited residential uses. Young Circle is located in the middle of a city-wide renovation currently ongoing in Hollywood which features over $2.0 billion in new and renovation projects across all asset classes, including MG3’s recently approved 488-unit mixed-use Parc Place project which is adjacent to the east and west sides of the Property and will provide over 700 spaces of parking within walking distance of the Property.