GSA Buys 20 Acre Parcel for New Office Complex

February 08, 2011 / Albert Hamon, Mergers and Acquisitions Reporter

An office complex in Buffalo, the second most populous city in the state of New York— HealthNow New York’s headquarters has been sold recently and may emerge as the Buffalo’s second-biggest commercial real estate transaction in the city’s history. Recently, an independent agency of the United States government, General Services Administration has acquired 20 acres of parcel from New York-based Rockefeller Group Development Corp as the location for the agency’s office complex.

GSA Buys 20 Acre Parcel for New Office Complex

Rockefeller Development has sold that land for about $13.5 million for the construction of the 475,000-square-foot federal office complex in Broward County, Florida.

According to a press release, the 20 acres of parcel is part of Rockefeller’s larger 40 acre parcel located at Interstate 75 corridor in Miramar, Florida.

GSA Southeast Sunbelt’s regional administrator in Atlanta, Shyam Reddy, the office complex will house thousands of square feet of federal office areas, within several office buildings with sustainable designs—in line the agency’s objectives, in Miami-Dade and Broward Counties.

Rockefeller Group’s Regional Development Officer and Vice President, Edgar C. Jones, Jr., the company is pleased that the federal agency chose the parcel for their new office complex.

Jones also said that a proposed flyover will be constructed on the site by 2013, and is sure to attract corporate tenants in the area.

Rockefeller Group and General Services Administration have also concluded several transactions together, including the Rockefeller’s recent leasing contract to GSA for 12,750 square feet of the company’s Miramar Town Center.

Upon completion, the office complex is said to house about 900 federal employees.

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