Merrimac Ventures has acquired a retail and office assemblage spanning 400, 416, 424, and 412-414 North Andrews Avenue in Fort Lauderdale’s Flagler Village neighborhood. The South Florida-based investment and development firm’s latest purchase totals 20,200 square feet of existing commercial space and was reported at $7.35 million, including $5.75 million for 400 North Andrews Avenue and $1.6 million for 412-414 North Andrews Avenue. 
The portfolio is anchored by 400 North Andrews Avenue, a three-story, 16,200-square-foot office building formerly occupied by the Dan Marino Foundation. Property listings describe the structure as a plug-and-play institutional or office building in the heart of Fort Lauderdale’s central business district. Retail space at 412-414 North Andrews Avenue adds another approximately 4,000 square feet to the assemblage. 
Credit: Merrimac Ventures.
“This assemblage represents a strategic step in our continued investment in Flagler Village, a neighborhood that is experiencing tremendous growth and transformation,” said Dev Motwani, Co-Managing Partner of Merrimac Ventures. “By securing well-located properties along North Andrews Avenue, we are creating a meaningful position that allows us to thoughtfully plan for the future while activating the site in the near term.”
According to the announcement, Merrimac Ventures has already signed a 10,000-square-foot lease at 400 North Andrews Avenue with a private school, while Native Realty is handling leasing for the remaining space. Merrimac’s corporate headquarters is located adjacent to the newly acquired properties, further consolidating the firm’s presence in Flagler Village. The neighborhood continues to attract investment due to its proximity to downtown Fort Lauderdale, the Brightline station, and major planned developments including Hines’ FAT Village.
Credit: Merrimac Ventures.
Merrimac Ventures is also advancing additional projects in the surrounding area, including ArtsPark Lofts, a 301-unit Opportunity Zone development in planning across from the assemblage, as well as a planned partnership for two residential towers totaling roughly 775 units. The firm also developed Truhome 2 Suites nearby, reflecting its growing footprint in one of Fort Lauderdale’s fastest-changing urban districts.
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Great. Hope they one day develop those addresses into a nice building. Wonder when they are going to go vertical on the two apartment tower on Federal? The foundation was completed well over a year ago and has sat dormant.