A Fort Lauderdale office tower sells for $69.7 million, with $20 million of upgrades planned
· Purchase announced October 22, 2026
Grover Corlew, a real estate investment and development firm based in Boca Raton, has bought 200 East Broward, a 21-story office tower in downtown Fort Lauderdale, for $69.7 million, and plans to spend another $20 million upgrading it.
Commercial real estate
An existing tower gets a second life
The seller was Banyan Street Capital, a Miami firm that paid $81.5 million for the building in 2017, according to Commercial Observer. The tower, built in 1991, is about 75% leased.
The new owner plans about $20 million of improvements over the next two years, including an amenity deck with a gym and conference facilities. This is not a new tower: it is an existing building getting a new owner and a refresh.
Why it’s good, in plain words: instead of standing half-empty, an older office tower gets fresh investment and better amenities. That helps keep companies and jobs downtown, and better offices make it easier for Fort Lauderdale to attract new tenants.
- Building
- 200 East Broward, downtown Fort Lauderdale
- Size
- 21 stories, built in 1991
- Buyer
- Grover Corlew (Boca Raton)
- Seller
- Banyan Street Capital (Miami)
- Price
- $69.7 million (paid $81.5 million in 2017)
- Upgrades
- About $20 million over two years: amenity deck, gym, conference space
What it means for Miami · Our view
Older offices are selling below their past prices, and new owners are betting that upgrades bring tenants back. This is one example to watch.
Still to be confirmed
The exact start and end of the renovation.
Sources
- Grover Corlew acquires landmark downtown Fort Lauderdale office tower for $69.7 million (opens in a new tab) (company announcement, October 22, 2026)
- Grover Corlew buys discounted Fort Lauderdale tower for $70M (opens in a new tab) (Commercial Observer, October 22, 2026)
Want to know more?
Ask Cathy Mai Phung, founder and editor-in-chief of Miami Reimagined.