Doing Good by Doing Good –
August 24, 2020 – The building was put up for auction in July with Fisher Auction Co., with a $5.5 million minimum bid. It was previously asking $12.9 million.
According to information provided for the auction, the building is on 2 acres and was updated in 2001 and retrofitted into an Everest University career college. After Everest opted not to renew its lease, which expired in 2017, Meyers Group bought a portion of the property, and in 2019 turned it into a 144-unit apartment building with monthly rents starting at $1,750. That apartment building, Avery Pompano Beach, shares a four-story parking structure with the sold office tower. The apartment building and an HSBC bank onsite were not part of the sale.
A document provided with the auction said the building can expand by about 40,000 square feet and be converted into an assisted living facility, a hotel or apartments. Market rents include $12 to $17 for office space, $14 to $19 for medical offices and $27 to $30 for retail.
Pompano Beach is seeing some major development projects. In June, the developer of a 122-unit multifamily project in Pompano Beach with workforce housing got the green light after a redesign.