Patrick Bet-David buys Broward office buildings for $ 9 million

In separate deals totaling $ 8.6 million, author and social media influencer Patrick Bet-David purchased a pair of office buildings in Broward County.

In Fort Lauderdale, a subsidiary managed by Bet-David paid $ 4.2 million for a one-story freestanding office building at 5990 Federal Highway, records show. The buyer was represented by Jaime Sturgis of Native Realty.

Violet Properties, managed by Jessie Lacey of Fort Lauderdale, sold the 11,376 square foot building, which was completed in 1972. Violet Properties acquired the property in 2007 through a deed of release which does not mention any Buying price.

The building was previously occupied by a medical retailer, according to a press release. Bet-David is exploring options to upgrade or adaptively reallocate the old office space to accommodate its media business, the release said.

Bet-David and his wife, Jennifer, are planting roots in Fort Lauderdale after moving from Plano, Texas. In June, the couple paid a record $ 20.4 million for a waterfront mansion in the community of Fort Lauderdale’s Bay Colony.

Additionally, Bet-David moved his media company, Valuetainment, to Boca Raton. He also founded the financial company PHP Agency and has written books including “Your Next Five Moves”. He has 3 million subscribers on Instagram and the Valuetainment Youtube channel has 3.2 million subscribers.

Valuetainment will move to the other office building acquired by Bet-David. Another subsidiary he manages bought the two-story freestanding building at 5100 North Dixie Highway in Oakland Park for $ 4.4 million, the statement said. The property also has a drive-thru bank currently leased to Chase. Valuetainment is expected to move its new headquarters to the 12,510 square foot building. Sturgis also represented Bet-David in the case.

The seller is interior design firm ID & Design USA, run by Sherif Ayad of Fort Lauderdale. The building was completed in 1975. ID & Design USA paid $ 2.1 million for the 1.7 acre site in 2013. The seller was represented by John Mayers with Coldwell Banker.

Sturgis said the Oakland Park building will be transformed into a state-of-the-art office space with a podcast studio and production facility.

The Fort Lauderdale office market has seen some big business this year. In October, Hines purchased a development site in Fort Lauderdale’s FATVillage for $ 57.4 million. The developer plans to build a seven-story, 180,000 square foot building.

And in June, Feldman Equities bought the Pinnacle Corporate Park office complex for $ 58.9 million. The property consists of two buildings located at 500 and 550 West Cypress Creek Road.