Fred Welker, Senior Vice President of Thomas D. Wood & Company worked on behalf of Blackhawk Properties & Investments to place the three-year construction loan for the property located at 550 South Andrews Avenue, Fort Lauderdale, Florida.
The property already under construction will have 99,466 square feet of office & retail space in a 7-story building and adjoining parking garage containing approximately 664 parking spaces situated on approximately 1.5 acres of land area. Approximately twenty (20%) of the space is under signed Letter of Intents. The 550 building will have 14,000 sf of ground level retail and restaurant space.
Located in downtown Fort Lauderdale’s South of Las Olas district (SOLO), 550 sits across from a Publix and immediately next to the new Broward County Courthouse.
Blackhawk Properties & Investment’s principals William Murphy and Kate Murphy assembled the 1.5 acres of land by acquisitions since 2013. Planned completion of the development is scheduled for Spring of 2019.
$32,500,000 ($326.74/sf), 36 months, +24 months mini-perm
Closed on 5/11/2018
Fred Welker, III, Senior Vice President
Thomas D. Wood & Company
401 East Las Olas Boulevard, Suite 1400
Fort Lauderdale, Florida 33301
305-447-7833, cell 954-564-1640
About Thomas D. Wood
Thomas D. Wood and Company is a privately held real estate investment banking firm specializing in Florida’s commercial and Multi-family real estate capital markets. Founded in 1987 by Thomas D Wood Sr. and Thomas D Wood Jr., the company has become one of Florida’s premiere real estate lenders with over $10 billion in transactional experience throughout Florida and the continental United States.
Thomas D. Wood and Company is dedicated to providing the highest level of personalized service, intimate knowledge of the local real estate market, while maintaining long-standing relationships with the top institutional lenders for real estate investors with best-in-class financing solutions.