Grover Corlew, a real estate investment management group focused on acquiring, developing and managing office and multifamily properties, has acquired 200 East Broward, a 21-story, 235,211-sq.-ft. Class A tower in downtown Fort Lauderdale, for $69.7 million.
The company plans to invest an additional $20 million in improvements and redevelopment to the property over the next two years.
The acquisition adds to Grover Corlew’s significant investments throughout Broward County. In Fort Lauderdale, the firm is developing Mayla Cypress, a 312-unit luxury apartment community in the city’s Uptown Urban Village, within the Cypress Creek business corridor. The development features a two-story fitness center, coworking spaces and indoor and outdoor gathering areas, with leasing scheduled to begin in January 2027.
In Pompano Beach, Grover Corlew developed Mayla Pompano, a 355-unit luxury apartment community anchoring a $200 million mixed-use development along East Atlantic Boulevard. The development features office and retail space, including the recently announced Calaveras Cantina restaurant. In Deerfield Beach, the firm owns Hillsboro Center, a five-building office campus acquired in 2019 for $32.5 million, with more than $11 million invested in improvements.
Grover Corlew also plans to break ground in 2028 on Mayla Hillsboro, a 360-unit luxury apartment community at the property.
Grover Corlew plans to modernize the property through capital improvements designed to enhance the tenant experience. Renovations will include the full modernization of the building’s elevator and main lobby, the addition of an amenity deck with a gym and conference facilities, and best-in-class tenant finishes…