DANIA BEACH, FL — Avison Young today announced the sale of $1.6 million sale of a 1.94-acre land parcel located at 180 East Dania Beach Boulevard in Dania Beach, Fla. The firm facilitated the sale on behalf of the seller, Asset Recovery X, LLC, to the Village at Dania Beach, LLC, which plans to use the land to develop a residential project.

David Duckworth, Vice President of Investment Sales with Avison Young, in a co-listing with Cary Cohen of Flagler Real Estate Services, oversaw the execution of the quick sale of the Dania land parcel, which from market to closing took less than four months.

“The Dania Beach land parcel was highly sought after from investors attracted to its unique zoning which allows for the potential development of up to 75 residential units per acre and up to seven stories,” said Mr. Duckworth. “The high level of interest in the property is a testament to the potential that developers see in Dania Beach.”

With more than 150 new condo towers proposed for construction in South Florida, the region's real estate market shows signs of a recovery. Combined with the renovations and expansion of offerings at Dania Jai-Alai, buyer interest in the submarket is on the rise.

Conveniently located between Fort Lauderdale and Hollywood, the 1.94-acre development site is less than 2 miles from the ocean in Dania Beach and minutes away from Fort Lauderdale-Hollywood International Airport. The property is situated in an East Dania Beach Boulevard Corridor Mixed-Use District, which is in an Enterprise zone encouraging medium- to high-intensity redevelopment of the corridor including retail, office, residential, and lodging.

Avison Young’s South Florida operations provide best-in-class services to local, national and international clients while also networking with the firm’s other offices across the U.S. and Canada. For more information about Avison Young and investment sales in South Florida, please contact Mr. Duckworth at (954) 903-1800 or visit www.avisonyoung.com/offices/south-florida-boca-raton.

Avison Young was a winner of Canada’s Best Managed Companies program in 2011 and the company announced last week that it had requalified in 2012 to maintain its status as a Best Managed company.

Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,300 real estate professionals in 52 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.