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VA-Based Investor Buys Into Cypress Creek Office Market

Park Center Cypress Creek

Gladstone Commercial Corp has jumped into the Cypress Creek office submarket with a 120k SF buy.

The firm picked up Park Center, a five-story Class-A office project at 6363 NW 6th Way in Fort Lauderdale for $23.9M, or some $200/SF. The firm purchased the property from a JV involving Fort Lauderdale's Mainstreet Capital Partners and Boston's Realty Financial Partners.

The property is fully leased to Citrix Systems and was brokered by HFF's Hermen Rodriguez, Jorge Portela and Ike Ojala.