BlueGate Partners has been exclusively retained by 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. The Property totals 45,000 square feet over four 11,250 sf floors, which are currently vacant. Built in 1964, and renovated in 2004, 1720 Harrison features a number of desirable structural details including 20-foot ceilings on each floor, floor-to-ceiling windows on the first, third and fourth floors; and, uninterrupted views to the Atlantic Ocean to the east, northeast, and southeast.
The area around and including Hollywood Beach, Downtown Hollywood and Young Circle is in the midst of massive revitalization with over $2.0 billion in recent development, as well as planned or current projects. This has driven a notable improvement in the office and retail markets Hollywood over the last five years evidenced by strong rent growth, declining vacancies and positive net absorption.