At a glance
- Four buildings sit on the site, along with an amenity building, a crew-training facility with flight simulators, and corporate housing.
- Spirit Airlines shut down on May 2, after a last-minute federal bailout fell through.
- Hill City is a Boston investment firm and hedge fund founded in 2020.
Connect CRE reported that Spirit Airlines' shuttered headquarters in Dania Beach sold at auction for $93.25 million. The buyer is an affiliate of Hill City Capital.
The property totals more than 600,000 square feet. Four buildings sit on the site, along with an amenity building, a crew-training facility with flight simulators, and corporate housing. The campus covers more than 11 acres. It was delivered just two years ago. The sale price works out to roughly $155 a square foot.
Spirit Airlines shut down on May 2, after a last-minute federal bailout fell through. Around 17,000 employees lost their jobs, the report noted. The bankruptcy estate has been selling aircraft, equipment, airport assets, and real estate; this auction is part of that wider disposal.
Hill City is a Boston investment firm and hedge fund founded in 2020. It manages about $4.9 billion in discretionary assets, with a focus on concentrated, long-biased equity strategies in industrials, transportation, and business services. The report does not say what Hill City plans to do with the campus. A conventional office buyer would weigh vacancy, leasing costs, and how much of the fit-out could be reused. A hedge fund making a physical-asset bet may be looking at something else entirely.
Reported by the Deals desk from Connect CRE. Published . Corrections