Newly-Constructed Nexus Sawgrass Apartment Community on the market

Wednesday, June 8, 2016

Update:  HFF closed the sale of this property.

HFF, on behalf of the owner, is marketing for sale Nexus Sawgrass, a newly-constructed apartment community containing 501 luxury apartment homes in the South Florida community of Sunrise.

Completed in 2013, Nexus Sawgrass consists of two mid-rise and eight garden-style multi-housing buildings. The apartment property for sale is characterized by its resort-style living experience with high-quality, condo-level finishes that include 10-foot ceilings, stainless steel appliances and granite countertops in every unit. The wide array of amenities include a pool, outdoor grill area and a clubhouse with a business center, fitness center, movie theater and game room. One of the two mid-rise buildings contains its own set of amenities, including structured parking and a private pool.

Located at 2903 NW 130th Avenue, the property is proximate to several demand drivers, including Sawgrass Mills Mall and Sawgrass International Corporate Park. Additionally, neighboring BB&T Center, which is located across Pat Salerno Drive from the property, serves as major lifestyle amenity. The center is home to the Florida Panthers NHL team and considered South Florida’s premier concert venue with ticket sales exceeding American Airlines Arena in Miami and The Forum in Los Angeles.

Multi-Housing Property Investment Benefits

  • Adjacent to Florida’s No. 2 Tourist Destination: The neighboring Sawgrass Mill Mall hosts 25 million visitors annually, making it Florida’s second most popular tourist destination after Disney World. The 2.7 million-square-foot mall features 20 anchors and 250 specialty retailers alongside a 300,000-square-foot open-air entertainment complex with a 23-screen Regal Cinemas and restaurant options.
  • Rapidly-Developing Urban Node: Sunrise, Florida, is entering a renaissance. The introduction of Metropica, a 65-acre, mixed-use development that will total four million square feet of retail, hotel and condominiums that has already broken ground next to Sawgrass Mill Mall. Metropica’s shopping and dining components, once completed, will add to the already-existing recreational amenities available to the area.
  • Positioned Within a Major Employment Hub: The Sawgrass submarket is one of Broward County’s most prominent corporate centers. AT&T, Cigna, HBO, Air France and Publix all have operating offices near Nexus Sawgrass, and American Express is constructing a new regional headquarters for approximately 3,500 South Florida employees on 40 acres across from the Sawgrass Mill Mall.
  • Strong Demographics in Submarket Poised for Growth: The apartment community is located at the heart of a highly-affluent submarket; within a one-mile radius of Nexus Sawgrass, the average annual household income is approximately $98,000. Additionally, the Sunrise population has increased 9.7 percent since 2010 and is projected to grow another 6.3 percent over the next five years.

Nexus Sawgrass presents investors with an opportunity to acquire a top-tier multi-housing asset in one of South Florida’s most dynamic submarkets. For more information on this or other commercial real estate listings in South Florida, contact Jaret Turkell in HFF's Miami office.     

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