Greenspoon Marder Shareholder Represents Miami-based Investment Firm in Purchase of $52 Million West Broward Office Complex

Jun 12, 2013

Shareholder, Scott J. Fuerst of Greenspoon Marder, recently completed a transaction in which his client, Fifteen Gap Sawgrass, LLC acquired a 645,000 square foot office complex in West Broward, at nearly a one-third discount from its previous 2005 sale price.

Fifteen Gap Sawgrass, which is managed by the Fifteen Group located in Miami, purchased Sawgrass Technology Park from N/S Sawgrass Office Associates LLC, a company managed by Stiles Corp., for the amount of $52 million. Fuerst played a key role in the transaction, negotiating the purchase agreement and coordinating with counsel for an out-of-state investor group, in closing the transaction. In addition, Fuerst was responsible for the land use & zoning diligence, lease and licensing review, title and survey matters, as well as reviewing loan documents prior to closing.

The deal was complicated by the property originally being part of a larger parcel and therefore tied in to those other parcels by old development of regional impact restrictions and private restrictions, imposed on all parcels by the former owners.

“This was a very complex deal that required a lot of due diligence on Scott’s part,” said Gerald Greenspoon, Co-Managing Shareholder of Greenspoon Marder. “It’s not uncommon to have to navigate through some obstacles when completing a transaction of this size, and we are happy to see another successful outcome for one of our clients.”

Fuerst has a diverse legal real estate background and through his early concentration in residential, zoning, condominium and land use matters, he has developed a broad-based transactional real estate practice.

About Greenspoon Marder

Greenspoon Marder LLP is a full-service law firm with over 240 attorneys and more than 20 office locations across the United States. With operations from Miami to New York and from Denver to Los Angeles, our firm attracts some of the nation’s top talent in key markets and innovation hubs. Our core practice areas include Real Estate, Litigation, and Transactional Services, complemented by the capabilities of a full-service firm. Greenspoon Marder has upheld a spot on The American Lawyer’s Am Law 200 as one of the top law firms in the U.S. since 2015, and our goal is to provide exceptional client service by developing a thorough understanding of each client’s business needs and objectives in order to provide strategic, cost-effective solutions.

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This Greenspoon Marder LLP Client Alert is issued for informational purposes only and is not intended to be construed or used as general legal advice nor a solicitation of any type. Please contact the author(s) or your Greenspoon Marder LLP contact if you have any questions regarding the currency of this information. The hiring of a lawyer is an important decision. Before you decide, ask for written information about the lawyer’s legal qualifications and experience.

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Greenspoon Marder Shareholder Represents Miami-based Investment Firm in Purchase of $52 Million West Broward Office Complex

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