Patrick Pete David (PatrickBetDavid.com, iStock/Illustration by Stephen Delacian for The Real Deal)
In separate deals totaling $8.6 million, author and social media influencer Patrick Pete David selected a pair of office buildings in Broward County.
In Fort Lauderdale, a Bet-David-operated subsidiary paid $4.2 million for a one-story self-contained office building at 5990 Federal Highway, according to records. Buyer Jaime Sturgess represented with Native Realty.
Violet Properties, operated by Jesse 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 claim deed that did not include the purchase price.
According to a press release, the building was previously occupied by a drug retailer. Bet-David is exploring options to upgrade or adaptively reallocate the former office space to accommodate his media business, the statement said.
Pete 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 Bay Colony community of Fort Lauderdale.
Additionally, Bet-David moved his media company, Valuetainment, to Boca Raton. He also founded the PHP Agency, the books of which are “Your Next Five Moves”. He has 3 million followers on Instagram and Valuetainment channel on Youtube with 3.2 million subscribers.
The recreational valuation will move to the other office property acquired by Bet-David. Another subsidiary it manages has bought the two-story standalone building at 5100 North Dixie Highway in Oakland Park for $4.4 million, according to the statement. The property also has a bank that is currently rented to Chase. Valuetainment is expected to be based in the new 12,510-square-foot building. Sturgess also represented Pete David in the deal.
The seller is interior design firm ID & Design USA, run by Sheriff Ayyad of Fort Lauderdale. The building was completed in 1975. ID & Design USA paid $2.1 million for the 1.7-acre site in 2013. Seller represented John Myers at Coldwell Banker.
Sturgis said the Oakland Park building will be converted into a modern office space with a podcast studio and production facility.
The Fort Lauderdale office market has seen some big ticket deals this year. In October, Hines purchased a development site at FATVillage in Fort Lauderdale for $57.4 million. The developer plans to build a seven-story building with an area of 180,000 square feet.
And in June, Feldman Equities purchased the Pinnacle Corporate Park office complex for $58.9 million. The property consists of two buildings at 500 and 550 West Cypress Creek Road.