FORT LAUDERDALE, Fla. (April 8, 2016) – Berger Commercial Realty brokers Joe Byrnes and Jonathan Thiel represented Thame Realty Associates, LLC in the $5.7 million sale of the South Florida Sports Complex building to LMD Sports, LLC.
Located at 3650 S.W. 10th Street in Deerfield Beach, the 63,332-square-foot building was home to an indoor sports center featuring three basketball courts, four volleyball courts, a soccer field, hockey rink, fitness center, retail space, concession bar, spinning and Zumba studios, locker rooms, showers and event facilities.
The property sits on a 3.71-acre lot less than one mile from the Sawgrass Expressway, I-95 and Florida’s Turnpike, across the street from Quiet Waters Park. Built in 1998, the building originally opened as a sports mall with a Gold’s Gym. It has been vacant since early 2014.
“This was a challenging property to sell, given that during its two-year vacancy, the building had been vandalized and didn’t have electricity or air-conditioning,” said Byrnes. “The negotiation and closing process also required a great deal of finesse. We are definitely pleased with the outcome and that it sold for more than $5 million.”
The buyer, an internationally renowned volleyball instructor, plans to renovate the building into a world class tournament and training facility. A portion of the space will be leased to a group that provides specialized, next-level training to teenagers and children that have special talents and aptitudes for basketball and baseball. Other sports and auxiliary tenants are being sought to lease space in the building as well.
About Berger Commercial Realty
Berger Commercial Realty is a regional, full service commercial real estate firm based in South Florida. Independent and privately owned since its founding in 1998, the firm is a member of TCN Worldwide, a network of independent commercial real estate firms providing global integrated real estate solutions. The firm’s property management and brokerage services include tenant/landlord and buyer/seller representation; project and construction management; agency/project leasing; capital advisory/investment sales; retail services and more. For more information, visit bergercommercial.com.