Jones Lang LaSalle Incorporated : Premier waterfront retail property in Fort Lauderdale trades

MIAMI, May 24, 2024 - JLL Capital Markets announced today that it has closed the sale of The Quay at 17^th Street, a premier waterfront mixed-use development in Fort Lauderdale, Florida.

JLL represented the seller, a joint venture between Mast Capital, Inc. and AEW Capital Management, and procured the buyer, a joint venture between BH Group, PEBB Enterprises and Related Group.

The Quay on 17^th Street consists of three buildings totalling 72,904 square feet and six yacht slips along the Intracoastal Waterway. Tenants at the 93%-leased property include Boatyard restaurant, Chipotle, USPS, Azimut Benetti Yachts and Sanlorenzo Yachts. The 6.97-acre site is also entitled for a 361-unit multi-housing development. Located in the highly trafficked SE 17^th St. corridor, the property is immediately adjacent to approximately $2.3 billion of transformative redevelopment projects; The Broward Convention Center Expansion and the Pier Sixty-Six mixed-use development.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Danny Finkle, Managing Director Maurice Habif and Senior Directors Jorge Portela and Eric Williams.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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