A large office property in Sunrise sold for $36.5 million, nearly $21 million less than it did six years ago.

The S. Florida Business Journal reports Accesso paid $36.5 million for Sawgrass Lake Center, a six-story, 239,373-square-foot office building with a five-level parking garage and a surface lot. A $21 million loan from Kawa Capital financed Accesso’s purchase.

The seller was Foundry Commercial and American Realty Advisors. In March 2018, Foundry paid $57.4 million for the property. Foundry was represented by Christian Lee, Sean Kelly, Tom Rappa, and Mathew Lee of CBRE in the sales transaction. 

On-site amenities include a fitness center, a yoga studio, a tenant lounge, a conference center, and a grab-and-go cafe. Tenants include AT&T Inc., GoVine Insurance, Watches of Switzerland, and Steven Douglas.

The distressed sale is nothing new to the region. One Town Center in Boca Raton was acquired for $99.5 million in 2021 and then sold for $82 million last summer.

Sunrise Senior Living has added Battery Park, an independent living high-rise in Lower Manhattan, to its management portfolio. Located at 455 North End Ave., near One World Trade Center, the 217-unit facility is the third luxury property in Manhattan for Sunrise and is owned by healthcare REIT Ventas Inc.

“Sunrise is honored to be selected by Ventas as the new manager for this iconic, luxury independent living community, which will be specially tailored for Manhattan residents intentionally seeking out our vibrant and preferred lifestyle for enjoying longer, healthier, happier lives,” said Jack R. Callison, Jr, CEO at Sunrise.

As Sunrise assumes management, it will seek to enhance the community to benefit its current and future residents, as well as team members. The community will undergo extensive renovations to its infrastructure and common areas. Planned investments include the complete modernization of the HVAC and main building systems, aiming for greater efficiency and sustainability to meet LEED building standards.