MHCommercial Real Estate Fund II Acquires Office Complex For $45.9 Million
The price equated to $267 per square foot.
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The price equated to $267 per square foot.
Seneca Town Center is anticipated to be one of the first of many major redevelopment projects throughout the Town of Pembroke Park.
The property features a newly renovated, 14,056-square-foot warehouse with 12 drive-in doors, situated on an oversized lot with substantial frontage on Okeechobee (Route 27).
Mike Davis, Dominic Montazemi, Miguel Alcivar, Adam Spies, Rick Brugge, and Rick Colon of Cushman & Wakefield represented both the seller and buyer in the transaction.
The three-building Class A portfolio is fully leased to six tenants.
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A partnership between Ft. Lauderdale-based Mitchell Property Realty, Inc. and Atlanta-based Ridgeline Property Group acquired the property and plan on developing a 227,000-square-foot spec office, warehouse, distribution facility located inside Westlake Landings, a 50-acre master-planned business park located off Seminole Pratt Whitney Rd.
Pompano Beach, and Broward County as a whole, is seeing unmatched commercial and industrial real estate demand.
Bidding deposits and qualifications must be submitted to the court-appointed receiver, Michael Goldberg, no later than 5 p.m. on Friday, May 20, 2022.
According to CBRE Research, strong leasing was sustained in the first quarter with more than 630,000 square feet in office transactions executed in Broward County.
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