CBRE has been selected by developer Related Group as the exclusive retail leasing agent for Flagler Village, a mixed-use development comprising 382 apartment units and 22,476 square feet of retail in downtown Fort Lauderdale. The development at 525 North Federal Highway broke ground earlier this year and is scheduled for completion in the third quarter of 2014. CBRE Associates Danny Diaz and Jerry Busbee are the leasing agents.
Flagler Village is part of a wave of infill development taking place in the city’s central business district, where developments underway are expected to deliver 4,300 new residential units to the market in the next five years. With the population of downtown Fort Lauderdale poised to nearly double, CBRE anticipates strong interest from national retail tenants.
“This is the newest retail project on North Federal Highway and one of the only projects that is part of an apartment complex south of Sunrise Boulevard,” said Danny. “The built-in customer base will create a steady flow of repeat business for retailers.”
Flagler Village will be two seven-story residences with courtyards enfolding a seven-story concrete precast parking garage, with a mix of studio, one-, two- and three-bedroom apartments. The retail component will be accessible via key access points on N.E. 5th Street and N.E. 6th Street, less than a block from the newly opened Fresh Market on North Federal Highway, providing great visibility to retailers in the project.
About CBRE Group, Inc. CBRE Group, Inc.
(NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.