New York-based Angelo, Gordon & Co., L.P. (“Angelo Gordon”) and Delray Beach-based Redfearn Capital formed a new programmatic joint venture to acquire value-add industrial properties throughout Florida with a concentration in South Florida.
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Prakas & Co. owner and restaurant consultant Tom Prakas along with sales associates Chas Prakas and Athan Prakas II exclusively represented the buyer and seller in the sale.
At $226 per square foot, the sale represents the highest price per square foot in Cypress Creek over the past decade.
Newmark’s Executive Managing Directors Steve Medwin and Nick Wigoda, along with Managing Director Alan Long, were the sole brokers on the transaction.
“With the vaccine gaining more traction each day, companies are feeling more confident about executing on their growth strategies,” said Azor. “We are now backfilling space vacated during the pandemic with tenants who are willing to make long-term commitments.”
The lease deal brings Building G at Davie Business Center, which totals 114,774 square feet, to 100% leased.
Real estate investor and motivational speaker Grant Cardone bought the office complex.
C&W’s Calum Weaver, Garrett Pordes, Robert Given, Zach Sackley and Troy Ballard of Cushman & Wakefield represented the seller, Finvarb Group, in the transaction.
JLL worked on behalf of the borrower, Sterling Organization, to secure the five-year, fixed-rate loan.
ShareMD paid $6.45 million in the off-market deal that closed May 21.
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