South Andrews Ave Tower Design and approval process by David Kitchens of Cooper Carry Make your mark and your money by setting the cornerstone on the South Andrews Ave Tower. While everyone else is chasing high-rise residential be the first with the last great piece of mixed use space in the Fort Lauderdale central business district. Design and approval process by David Kitchens of Cooper Carry Design and approval process by David Kitchens of John A. Paccione 4192 Conroy Road, Suite 110 Orlando, FL 32839 Direct: 407.619.1099 Email: JPaccione@Millenia-Partners.com Licensed Real Estate Broker
2 South Andrews Ave Tower Site Plan info CURRENT USE OF PROPERTY CURRENT LAND USE DESIGNATION PROPOSED LAND USE DESIGNATION CURRENT ZONING DESIGNATION PROPOSED ZONING DESIGNATION ADJACENT ZONING DESIGNATION 17,500 SF EXISTING OFFICES D-RAC D-RAC RAC-CC RAC-CC RAC-CC Subject Property 72,689 SF (with 17,500 SF Existing Bldg) TOTAL EXISTING GROSS SITE TOTAL NET DEVELOPMENT SITE 1.669 ACRES TOTAL 72,689 SF 1.527 ACRES TOTAL 66,106 SF The subject property occupies the northwest corner of the S Andrews Ave intersection with SW 6th Street, just south of the New River in the central business district of Fort Lauderdale, Florida. TOTAL BUILDING FOOTPRINT PROPOSED 50,900 SF / 77% WATER / WASTE WATER SERV. PROVIDER RESIDENTIAL DEVELOPMENT, NUMBER OF UNITS PARKING REQUIRED 0 CITY OF FORT LAUDERDALE N/A Five parcels combine to provide a total of 72,689 square feet of land. An existing building of 17,500 is located at the northeast corner of the property. Folio numbers for the 5 parcels are: 504210014540, 504210014560, 504210014590, 504210014580, and 504210014570. PARKING PROVIDED 1,040 / 8 FLOORS HANDICAPPED PARKING PROVIDED 21 LOADING ZONES PROVIDED 5 ON STREET PARKING 13 BUILDING SQUARE FOOTAGE RETAIL 13,900 OFFICE 355,230 HOTEL 227,050 BUILDING SERVICES 26,700 SUB TOTAL MINUS PARKING 622,880 PARKING 466,210 TOTAL BUILDING SQUARE FOOTAGE 1,089,090 BUILDING HEIGHT 492 FT Abridged version of the site specific details and approvals for the site. A 17,000 + sf building on the property to be demolished. Existing tenant leases are short term basis and can vacate before construction begins. Approvals include parking in excess of requirements. Approved 622,880 square feet of occupied space can be modified or reduced without material time or expense. Office, hotel and retail can be easily changed. Property is ready for design and construction documents. Addition of residential space is permissible but will require municipal approvals. NUMBER OF STORIES 37
Fort Lauderdale Office Market 3 Proposed site of the new federal court bldg replacing the one on Broward Blvd. Location of the nearly complete new county courthouse bldg Subject Property 72,689 SF The subject property anchors the southwest corner of the Broward County Courthouse Complex. This site is the only location available with approved office space in the central business district of Fort Lauderdale and within walking distance of the courthouse complex. Legal professionals will have the ability to visit the courthouse complex several times per day without moving their car and fighting for parking spaces. It is a crowded field for residential development in the downtown Fort Lauderdale market. The area is seeing an unprecedented volume of both approved and proposed residential units. This bodes well for an expanding labor pool of talented white collar employees for local businesses. South Andrews Avenue Tower is the ONLY approved Class A mixed use site that is ready to go.
4 Fort Lauderdale 21st Century Freight Hub Fort Lauderdale is a community where civic leaders have a vision for the future and have seized the initiative to make it a reality. Port Everglades is under expansion, with shipping channels widened and deepened to allow for access by the larger New Panamax ships. The New Panama Canal allows for larger ships capable of carrying 11,000 to 14,500 TEU s (twenty foot equivalent unit) as opposed to the Old Panama Canal Panamax ship carrying 3,000 to 4,000 TEU s. The volume of container ship birthing s p a c e i s b e i n g d r a m a t i c a l l y increased. Under the operating expertise of the Florida East Coast Railway (FEC), Port Everglades will have a state of the art intermodal container transfer facility (ICTF). The ICTF will allow for container ships to be offloaded and go directly onto rail lines without using trucks to transport the containers offsite to the rail lines. This will be the first on-port rail yard in the United States handling both domestic and international cargo. This will deliver a lower freight cost to customers and will take 180,000 truck trips per year off of Broward County roads. Port Everglades will become a showcase and Fort Lauderdale as the best choice to transfer your freight from sea to rail. Fort Lauderdale will become a hub of international trade, finance and business activity. This, along with all the other factors referenced will result in a Class A vacancy rate well below 10% for the CBD average.
5 Fort Lauderdale Civic leaders have set the stage for Fort Lauderdale s growth. In excess of $2 billion dollars is being spent on the expansion of Fort Lauderdale / Hollywood Int l Airport (FLL). In particular, the new 8,000 foot south runway will bring the big jets into our airport and along with them, many new international travelers for both business and pleasure. "The Wave Streetcar" promises to make downtown Fort Lauderdale a more accessible and enjoyable community to live and work in. It costs each airline more than 4 times as much to board each passenger at Miami Int l Airport. We expect to see a significant increase in international business as a result of this timely capital expenditure. Starting at Federal Highway and NE 6th Street, The Wave Streetcar will be fixed rail, and make 10 stops on both sides of the New River with 1 stop less than one block from the subject property.
6 Conclusions & Contact Design and approval process by David Kitchens of Cooper Carry The Fort Lauderdale Central Business District (CBD) is poised for significant expansion in both resident population and business growth. The expansion of the Courthouse Complex is a key growth driver in the Central Business District south of the New River. New residential development will bring thousands of residents to the area seeking employment, shopping, dining, and entertainment venues. Significant capital expenditures have been deployed to expand Port Everglades and Fort Lauderdale / Hollywood Int l Airport. Setting the stage and propelling Fort Lauderdale into the forefront of becoming one of the most dynamic cities on the East Coast of the United States. The subject property is the right place, the right time, with the correct approvals to develop an outstanding city center and investment opportunity. The lack of Class A office space in the vicinity of the growing Courthouse Complex will drive occupancy in the South Andrews Avenue Tower. Vince Montelione Direct: 954.608.3737 Email: VMontelione@Millenia-Partners.com John A. Paccione Direct: 407.619.1099 Email: JPaccione@Millenia-Partners.com Due diligence material is available for review. Broker cooperation is available for this opportunity. 4192 Conroy Road, Suite 110, Orlando, FL 32839 407.370.3211 Licensed Real Estate Broker