Traina Sells Downtown Fort Lauderdale Site for $23.1M, Stays on as Development Partner for Mixed-Use Project
FORT LAUDERDALE, FLA. — New York-based Traina Cos. has sold a 2.8-acre parcel known as FATCity (Florida Arts and Technology City), a future mixed-use development in downtown Fort Lauderdale. An affiliate of Aventura, Fla.-based BH3 purchased the site at 300 N. Andrews Ave. from Traina Cos. for $23.1 million. The development is entitled to cover 1.35 million square feet of mixed-use space spanning a city block from N.E. Third Street to N.E. Fourth Street. At full build-out, FATCity is expected to comprise 612 residential units, 85,000 square feet of retail space, 270,000 square feet of commercial space and more than 1,300 parking spaces. Traina Cos. will continue to be co-developer of the project. A timeline for the project was not disclosed. Avison Young represented Traina Cos. in the land sale.