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Charles Cohen advances $350M Dania Beach office project after Fortress deal
The Office Center of the Americas will deliver 400,000 SF across two 10-story towers and two four-story parking garages, planned in two phases over about four years.
Real estate billionaire Charles Cohen is moving forward with a major new development in Dania Beach after resolving a long-running debt dispute with longtime lender Fortress Investment Group, according to Bisnow.
Cohen Brothers Realty Corp., which Cohen leads as CEO and chairman, is planning a $350 million office project near Fort Lauderdale-Hollywood International Airport called Office Center of the Americas. The plan includes two 10-story office towers with floor plates of roughly 14,000 SF each, connected with terraces and promenades, plus two four-story parking garages.
The project is set to total about 400,000 SF of office space, with Nichols Brosch Wurst Wolfe & Associates listed as the designer. Cohen plans to build it in two phases over about four years, with the new office towers expected at 1805 and 1815 Griffin Road.
OCTA is planned to replace a 60,000 SF, four-story office building that Cohen purchased in 2006 for $13.7 million, which is expected to be torn down. Bisnow also notes the earlier office property was part of a Design Center of the Americas campus, and that the developments come after Cohen was ordered last year by a New York court to pay Fortress $187.3 million related to his personal guarantee of a $534 million loan.