In a market where well-located, stabilized office assets continue to command attention, PEBB Enterprises has closed the sale of the 6400 Building in Fort Lauderdale’s Cypress Creek submarket for $11.93 million. The transaction, finalized on December 17, marks the conclusion of a more than two-decade hold for the Boca Raton–based real estate investment and development firm.
The 55,241-square-foot office property, located at 6400 N. Andrews Ave., was acquired by JS Florida Ventures, LLC and HS Florida Ventures, LLC. At the time of sale, the building was 89 percent leased—an occupancy level that underscores continued tenant demand in Cypress Creek, one of Broward County’s most established office corridors.
Cypress Creek’s appeal is rooted in fundamentals that remain difficult to replicate: immediate access to I-95, proximity to major employment nodes, and a growing concentration of hotels, retail, and dining. The 6400 Building sits adjacent to a Marriott hotel, further enhancing its attractiveness to tenants seeking convenience and connectivity.
“This sale concludes a successful long-term investment for our company, as we owned the asset for more than 20 years,” said Ian Weiner, CEO of PEBB Enterprises. “We are actively pursuing several new office acquisition opportunities in South Florida, and this was the right time to execute the 6400 Building disposition. PEBB remains bullish about the region’s office market and continues to target opportunities aligned with its long-term strategy of acquiring well-located commercial assets with repositioning and/or redevelopment potential.”
The transaction reflects a broader recalibration underway among experienced South Florida owners—particularly family offices and private equity groups—who are selectively harvesting mature assets while redeploying capital into properties with value-add or redevelopment upside.
The sale was brokered by Scott O’Donnell of Cushman & Wakefield, who represented PEBB Enterprises in the disposition.
PEBB’s office portfolio spans multiple South Florida submarkets and includes high-profile holdings such as The Eclipse (formerly the Office Depot headquarters), owned in partnership with BH Group, as well as the Research Park at FAU in partnership with Banyan Development. Together, those assets reflect the firm’s long-term approach to owning and operating institutional-quality office properties in strategic locations.
Founded more than five decades ago, PEBB Enterprises remains a family-owned business with a diversified portfolio that includes office buildings and neighborhood, regional, and power shopping centers across Florida, Nevada, and New York. As the firm continues to reposition its holdings, the Cypress Creek sale signals not a retreat from office, but a disciplined step toward the next phase of its South Florida investment strategy.
