Pordes Residential Enters Commercial Market with One West Las Olas in Fort Lauderdale

Pordes Residential Sales & Marketing has opened a commercial division, Pordes Commercial, that capitalizes on the firm’s unique skills in positioning properties and bulk sales. The company is bringing on more agents and selling more properties than any other firm in the market.

Launching the commercial division was an easy decision for the firm after it completed five large commercial transactions in the past 12 months. Now, company founder and president Mark Pordes is looking to expand the team to drive new business and to help out with new acquisition requests and commercial transactions.

Pordes Commercial has just listed a $1.75 million parcel for One West Las Olas Boulevard in Fort Lauderdale, a proposed 10-story professional office building at the corner of Andrews Avenue and Las Olas Boulevard in downtown Fort Lauderdale.

The 47,000-square-foot project will have premium ground floor retail space and nine floors of Class A office space. The units of 1,000 square feet or more can be owner occupied or leased. Units have open plans and large windows at a Las Olas address.

The building site is along Riverwalk, a short walk from the Broward Center for the Performing Arts, Broward County courthouse and Florida Philharmonic. The offices will be just 10 minutes from Fort Lauderdale-Hollywood International Airport and Port Everglades.

Pordes has extensive experience in complex, large-scale commercial transactions. The company brokered the $125 million sale of 146 units at a luxury condominium at 2700 N. Ocean Drive on Singer Island. That deal satisfied the lender, relieved the developer of liabilities and provided the investors with a prime oceanfront property at an excellent price. The property has now been repositioned as Ritz-Carlton residences.

Other large-scale transactions include:

• Bulk sale of 98 units at NoBe Bay in Miami Beach in 2011
• Partnership to acquire, sell and market 42 condo-hotel residences at One Bal Harbour in 2010
• Bulk sale of 50 units at Fontainebleau Sorrento in 2009 and 2010
• Bulk sale of 170 units at Trump Hollywood in 2010