Fort Lauderdale site could be marked for hotel development

An oceanfront retail site on the market in Fort Lauderdale, Fla., is being considered for a new hotel development. The Aquatic Center Plaza is being marketed for $29.75 million, and the owner, Sophia Enterprises, is being represented by Marcus & Millichap.

In a statement, Scott C. Sandelin of Marcus & Millichap said the property could be rezoned into a 200-unit resort hotel with ground-floor retail, and the entitlement process for such a project is already underway.

Virtual Event


Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.

Sophia Enterprises paid $1.8 million for 13,130 square feet of the location in 1985, and spent another $2.5 million in August 2015 for a further 12,464 square feet. The location currently has a gym, restaurant/bar and souvenir shop as tenants.

Suggested Articles

The hotel will implement a new, branded mobile app that delivers control to guests and GEMS, a back-office tool that streamlines operations.

The U.S. is now the only region that has yet to turn a positive month of profit since the COVID-19 pandemic took hold.

While occupancy largely was flat week over week during the seven-day period ending Sept. 19, rate and revenue both declined.