FORT LAUDERDALE, FL - Native Realty, the industry disruptor and neighborhood placemaker led by CEO Jaime Sturgis, completed yet another off-market investment sales transaction in Fort Lauderdale’s Flagler Village – the popular neighborhood curated by Sturgis and Native. Sturgis and Native Senior Associate Dan Ross represented the seller of a 1.3-acre multifamily development site located at Flagler Village’s entrance.
The $9.42 million transaction closed on Oct. 11. Levy Ft Lauderdale Holding LLC sold the 4 NW Seventh St. site to Advantis Development. The site, which is currently operated as an automotive junkyard, is just north of Sistrunk Marketplace and the Hines FAT Village project.
Advantis is proposing to develop a 168-unit aesthetically unique apartment building on the site.
Earlier this year, Sturgis and Ross brokered another impactful Flagler Village sale involving Advantis. In an $11 million transaction, the duo represented four different sellers of a 1.4-acre site that will be developed into Advantis Station at Flagler Village, a 252-unit rental project. That site was one of the last available land assemblages in the neighborhood.
“With land at an extreme premium, we apply the creativity, local knowledge and relationships to make deals like this possible,” Sturgis said. “We are proud to continue our long-term efforts to help Flagler Village evolve, in this case through thoughtfully designed, premier multifamily development.”
Sturgis and Native led the turnaround of Flagler Village from an overlooked industrial district to one of Florida’s coolest urban neighborhoods, curating the area with a vibrant mix of public art, retailers, creative offices, dining and entertainment destinations. Large-scale apartment development followed, giving Flagler Village a critical mass of residents to support the many commercial businesses.
As the latest transaction indicates, multifamily developers remain bullish on Flagler Village and the surrounding neighborhoods.
Sturgis and Native also keep closing off-market deals at a staggering pace. In a one-week span in July 2022, Sturgis brokered the $10 million off-market sale of a Flagler Village office building and $17.5 million off-market industrial transaction in Fort Lauderdale’s Studio City neighborhood. Other 2022 off-market closings include the $5.475 million sale of a Studio City commercial real estate portfolio and the $7 million sale of Fort Lauderdale’s Cordova Building.
Last month, Sturgis won the South Florida Business Journal’s 2022 Dealmaker of the Year honor at its annual Structures Awards.
Native now operates from a new Fort Lauderdale office that is double the size of its previous headquarters. The 4,000-square-foot office is located at 1926 E. Sunrise Blvd. in the city’s Victoria Park neighborhood.
About Native Realty: Founded in 2017 by pioneering Fort Lauderdale-based commercial real estate broker Jaime Sturgis, Native Realty is disrupting the real estate industry and redefining what it means to be a broker. Sturgis and his team of passionate brokers specialize in leasing and investment sales in the urban core and emerging markets in South Florida. Instead of looking at individual listings and transactions in a vacuum, Native takes a holistic approach to the urban neighborhoods the company’s brokers live, work and play in. The firm is best known for its role curating Fort Lauderdale’s Flagler Village neighborhood, completing more than 1 million square feet in transactions in the last few years. It is now expanding its placemaking efforts to urban core neighborhoods throughout South Florida. Native works with all types of clients, from Fortune 500 companies to small businesses. Notable clients have included Coca-Cola, Integra Realty Resources, U.S.A. Parking and many more. Native is headquartered at 1926 E. Sunrise Blvd. in Fort Lauderdale. For more information, visit www.nativerealty.com