Former Ocean world site in Fort Lauderdale slated for eight-story apartment complex
FORT LAUDERDALE, Fla. (March 5, 2015) – Berger Commercial Realty, a regional, full service commercial real estate firm, announced that Senior Vice President Steve Hyatt represented Alliance Residential Company in the $22.1 million purchase of 4.26 acres of land, located at 1701 S.E. 17th St., from Art Institute Investments, LLC. The property is the former site of Ocean World, a marine park and tourist attraction that closed in 1994.
Alliance plans to develop a 394-unit apartment complex, named Broadstone Harbor Beach, on the site. Plans for the complex include eight stories of apartment units; high-end amenities such as a club room, pool, putting green and a state-of-the-art fitness center; 2,700 square-feet of retail space; and a 4,600-square-foot retail outparcel.
Headquartered in Phoenix with a regional office in Boca Raton, Alliance is one of the largest private multi-family development companies in the United States, purchasing real estate, developing projects and managing properties in 19 states and 29 metropolitan markets throughout the country.
“This deal was two-and-half years in the making,” Hyatt said. “Ocean World was an old Fort Lauderdale attraction and this land has a storied history. I can still remember going to the aquarium’s dolphin show on a school field trip.”
He added, “Near the beach, shops, restaurants and more, this site is the perfect location for the Broadstone Harbor Beach apartment project that Alliance has planned.”
Hyatt has more than 30 years of real estate experience in the South Florida market. His focus areas include investment sales, land brokerage, and acquisition / disposition services for both corporate clients and private investors, including expertise in the automotive sector.
About Berger Commercial Realty
Berger Commercial Realty is a regional, full service commercial real estate firm based in South Florida. Independent and privately owned since its founding in 1998, the firm is a member of TCN Worldwide, a network of independent commercial real estate firms providing global integrated real estate solutions. The firm’s property management and brokerage services include tenant/landlord and buyer/seller representation; project and construction management; agency/project leasing; capital advisory/investment sales; retail services and more. For more information, visit bergercommercial.com.