CBRE Arranges $57.5 Million Sale Of Broward County Class A Office Building
Christian Lee, José Lobón and Marcos Minaya of CBRE Capital Markets, and Jay Adams with Newmark represented the seller, Encore Capital Management, in the transaction.
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Christian Lee, José Lobón and Marcos Minaya of CBRE Capital Markets, and Jay Adams with Newmark represented the seller, Encore Capital Management, in the transaction.
Now under construction, “The Julia” (formerly No. 16 Residences) is a $100 million, 14-story residential tower that will deliver 323 upscale one- and two- bedroom apartments to one of the city’s most historic and vibrant neighborhoods.
The landlord was represented by Jeff Kelly and Owen Sagar of CBRE.
The leading Miami-based brokerage and advisory firm has closed more than 13 million square feet of deals.
The developer completed the 485,275-square-foot rental complex in 2020, after buying the land for $8.5 million in 2014 and securing a $69 million construction loan four years later, per property records.
C&W’s Travis Herring and Katherine Ridgway of Cushman & Wakefield represented the landlord, IP Capital, in the lease negotiations.
The deal equates to about $318 a square foot for the nearly 243,000-square-foot complex.
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Totaling 144,168 square feet, Building G is now 62% pre-leased. The project is currently under construction and on pace for a December 2021 completion.
The 100% occupied, 33,557-square-foot portfolio traded for $239,535 per unit.
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