The secret is out: Fort Lauderdale is now considered one of the most booming real estate towns in the country, with new real estate projects popping up at a fascinating rate. For my blog today, I wanted to discuss five Fort Lauderdale real estate trends/acquisitions and the implications behind them:

Fort Lauderdale is having a Skyline Transformation!

Upcoming real estate projects are transforming the Fort Lauderdale skyline! The leader in this new construction is 100 Las Olas, standing at nearly 500 feet tall. According to Fort Lauderdale mayor Jack Seiler, “We're trying to create a very walkable, livable, 24/7 live, work, play downtown…We're not trying to be any other city, we’re just trying to be the best city we can be.”

Trader Joe’s Retail Center Sells for $49.2 Million!

Trader Joe’s location has sold to 1600 Commons shopping center in Fort Lauderdale, adding up to a hefty $753 per square foot deal, one of the highest values for a retail property seen in Broward County. This is a sign of a strong anchor tenant. Extra proof that Fort Lauderdale continues to be a strong attraction to retail giants, boosting the job market and economy.

International Boat Show Staying in Fort Lauderdale!

Great news boat lovers! The Fort Lauderdale International Boat Show is set to remain at the Bahia Mar resort through 2050. This announcement comes from the Marine Industries Association of South Florida confirming that this 30 year lease extension will allow developer Jimmy Tate and Rahn Bahia Mar LLC to submit new proposals that would allow the site to be developed. Such upgrades include replacing the existing hotel and add 11-story apartment buildings, as well as renovating the surrounding dock space, adding restaurants, and even including a small fishing village on the property. When asked for comment on these new additions, Tate replied,” Between the 650 residential units and the commercial and the hotel, it’s probably, from an investment standpoint, $500 [million], $600 million.” I look forward to attending the new, improved boat shows for years to come!

Hilton Fort Lauderdale Marina Up for Sale!

One of the largest hotels in Broward County is now up for sale. The 589 Hilton Fort Lauderdale Marina is expected to receive around $175 million. Property would include a 33-slip marina, and also offers tons of redevelopment potential. This hotel is the third largest in Broward County, and has been renovated several times. It’s reported that this listing is being marketed to domestic and foreign investors in Europe, Asia, and the Middle East.

Amaray Las Olas Sold for $134 Million!

Amaray Las Olas has set a new precedent for apartment tower real estate deals, selling at an impressive $133.55 million. This equates to $525,787 per unit, one of the highest prices per unit for a Broward County apartment deal in recent years. This continues the momentum of Fort Lauderdale luxury apartments setting new standards in resort-style amenities in Broward County. According to John Petricola of Rockefeller Group, part of the joint venture that included Stiles Corporation in this deal, this only speaks positively about the future of Fort Lauderdale real estate: “Amaray Las Olas set a new benchmark for the market, as evidenced by the speed of the leasing program, which we attribute to its spectacular location, authentic and singular design and its luxury lifestyle amenities. This is the new defining landmark on Fort Lauderdale’s skyline and we expect that it will continue to be a strong success far into the future.”

It is evident that Fort Lauderdale is booming, and I only see the Fort Lauderdale real estate market improving with time! If you would like to find the perfect Fort Lauderdale property for you, please contact me at 305-801-8363 or by email via bozena@diplomatrlty.com. This is one real estate phenomenon you don’t want to miss!