In 2000, BankAtlantic (a Florida-based bank founded in 1952, with branches from St. Lucie County down to Miami-Dade County) decided to relocate their corporate headquarters from East Sunrise Boulevard to a location closer to I-95 in Broward County. In late 2000, Mr. Feuerman and his partner, both with a global, top 5 commercial brokerage firm at that time, won the assignment to lead the search for the bank. The new location had to have enough land or existing building to accommodate at least 100,000 s.f. of office space, sufficient parking for all employees, room for growth, and superior exposure for corporate identity, and it had to be a Class A property or one that could be upgraded to Class A. The bank was open to purchasing or leasing.
By early 2001, Mr. Feuerman had identified over 10 properties that met the bank’s criteria and took the bank through each viable option. One of those sites was a +/- 188,000 s.f., Class C office/manufacturing facility, available only for lease. Mr. Feuerman envisioned that site as one which could be converted to 100% office, and upgraded to Class A.
Mr. Feuerman, having a prior relationship with the property owners, contacted them and convinced them to review an unsolicited offer to purchase the building, as well as an additional, adjacent +/- 11 acre parcel of vacant land that they also owned. The bank agreed that the site would make an excellent location for their new headquarters, and Mr. Feuerman’s team assisted the bank and its attorneys in negotiating the terms of the purchase and sale of the building and the adjacent land.
After the purchase, the property was converted to a Class A, single tenant headquarters building which stands today as an iconic property on West Cypress Creek Road.