A joint venture between BH Group, PEBB Enterprises and Related Group announced that it has acquired The Quay at 17th Street, a premier waterfront mixed-use development in Fort Lauderdale, Fla.
JLL represented the seller, a joint venture between Mast Capital, Inc. and AEW Capital Management, and procured the buyer.
The Quay on 17th Street consists of three buildings totaling 72,904 square feet and six yacht slips along the Intracoastal Waterway. Tenants at the 93 percent 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 Southeast 17th Street 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.
