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Fortec, a Miami-based real estate development company dedicated to reshaping urban neighborhoods through built-to-suit educational projects carefully designed to support community growth, has announced the sale of one of its Broward County properties, located at 2216 Hollywood Blvd., for $11.88 million.
Once a vacant and abandoned property frequented by the homeless population, Fortec purchased the land in 2022 and transformed it into two much-needed and highly desirable schools. Fortec developed the site for Higher Ground Education, the largest and fastest-growing network of Montessori schools worldwide, and signed a 20-year lease with the tenant. The 17,000-square-foot-building is now home to Guidepost Montessori and Academy of Thought and Industry at Hollywood Beach East campus.
“We are excited to have seamlessly closed on the sale of this property,” said Pablo Marcelo Barreiro, chairman of Fortec. “The sale supports our 2024 business strategy and expansion plans to continue developing built-to-suit educational projects that support community growth nationwide.”
Keeping up with the increasing demand for quality education across the country, Fortec has developed 16 schools nationwide in the last three years.
Milo Spector of Northmarq brokered the deal on behalf of Fortec.
For more information, visit fortecnow.com.
ABOUT FORTEC
Fortec is a national real estate development company dedicated to enriching neighborhoods across the U.S. through build-to-suit commercial projects. It specializes in various sectors, including retail and educational facilities. With over 30 years of combined industry experience in financing, purchasing and selling, as well as developing and managing real estate assets, Fortec executes projects that generate high yields for its investors while positively impacting the community. Headquartered in Miami, Fortec has developed over 300,000 square feet of commercial real estate across Florida, Massachusetts, Virginia, Washington, Georgia and internationally. Since 2020, it has built and sold more than $150 million in commercial real estate transactions. For more information, visit fortecnow.com.
