Boca Raton, Fla. – Boca Raton-based Fimiani Development announced the sale of the 777 Building, a two-story 22,688 square-foot office and retail building at 777 S.E. 20th Street in Fort Lauderdale. 777 Holdings, LLC sold the property for $2 million to 777 Offices, LLC. Michael Fimiani, president of Fimiani Development, handled the transaction as part of a court-appointed receivership.
Located just north of I-595, the 22,668 square-foot building offers retail space on the first floor and offices on the second floor. The building’s tenants specialize in the yachting and marine industry. In November 2009, Fimiani was appointed receiver of the office building and handled the property’s leasing and management.
“The building’s prime location near Port Everglades, Fort Lauderdale International Airport and several major interstate highways make this an attractive property for businesses in all industries,” said Fimiani. “The real estate market is beginning to show signs of improvement as this is the second property we sold within a year of being appointed receiver.”
Fimiani Development is a full-service firm and offers lenders the ability to work with a single source for their receivership needs. Fimiani Development is also handling office and residential receivership assignments. “We handle leasing, management, tenant improvements, accounting and disposition of assets for our lender clients,” said Fimiani.
Fimiani Development creates value by acquiring and redeveloping retail and commercial real estate projects throughout Florida. The company’s services also include acquisition and redevelopment of existing shopping centers, ground-up development of new centers, consultation in developing third-party leasing programs and performing third-party leasing and management assignments of retail and office properties. For more information, visit http://www.fimiani.com.