Expansive waterfront property features mixed-use development opportunity
Fort Lauderdale, FL – February 3, 2016 – CBRE Hotels has been exclusively retained to market the Hyatt Regency Pier Sixty-Six Resort and Marina, a landmark 384-unit property on 22.7 acres at 2301 SE 17th St. in Fort Lauderdale, Florida. CBRE’s Christian Charre, Paul Weimer and Natalie J. Castillo are marketing the landmark resort, offered unencumbered by brand or management, and with development opportunity – the property is fully entitled for further mixed-use development.
"This is an extraordinary waterfront development opportunity in the ‘Yachting Capital of the World’,” said Christian Charre, Senior Vice President, CBRE Hotels. “Fort Lauderdale’s lodging and residential market continues to strengthen, and this will appeal to investors pushing beyond the Miami market in search of higher yields.”
Enhanced by a recently completed $23 million marina renovation, one of the nation’s most sought-after resort and marina properties offers exceptional upside through a guestroom renovation, with the added potential for residential and retail development to complement the existing resort and further growth of marina business. Approved plans call for 58 luxury residential units spread across two 11-story towers plus more than 30,000 square feet of retail and office development with more than 230 new parking spaces with rooftop pool and gardens.
Set against an expansive backdrop of mature landscaping and royal palms, the guestrooms and suites of Pier Sixty-Six span a 17-story tower and two lanai-style two-story buildings. The property also offers five popular food and beverage outlets; three tropical oasis pools with cascading waterfalls; an extensive 41,000-square-foot event space; a two-story yacht brokerage building; and one of the largest and most prominent marinas in Florida with 7,100 linear feet and 112 slips, including space for 16 super yachts.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
