CBRE Arranges $52.8 Million Sale Of 171,000 SF Industrial Property
This deal marks one of the largest user purchases in recent history.
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This deal marks one of the largest user purchases in recent history.
The portfolio was 91% occupied at the time of sale with 21 tenants.
Firm CEO Jaime Sturgis and COO Kaley Tuning represented the seller in the $5 million transaction, which equates to $650 per square foot.
The project replaces a formerly underutilized office property and aligns with the City of Fort Lauderdale’s long-term vision for Uptown Urban Village, which is aimed at bringing more residences and mixed-use development to the area near the Cypress Creek Tri-Rail Station and Fort Lauderdale Executive Airport.
Drew Kristol and Kirk Olson exclusively marketed the property on behalf of the seller.
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The development team plans to transform the site into a modern, Class-A industrial campus featuring two warehouse buildings totaling approximately 182,000 square feet.
Completed in 2024 at 1765 N. Miami Avenue, Wynwood Haus is a 20-story property located at the entrance of Wynwood and offers studios, one- and two bedroom-units, along with 6,824 square feet of ground floor retail.
The sale represents the largest industrial land transaction in Martin County since 2023.
Leading real estate developer Related Group is developing the residential project in partnership with BH and PEBB.
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