The asset was completed in Q2 2020 and is approximately 98 percent leased.
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Berkadia arranged $14.1 million in acquisition financing on behalf of Foundry Commercial for the acquisition.
The property covers 25 acres.
CBRE’s Larry Genet, Tom O’Loughlin, and Jake Zebede represented the owner in the sale of the industrial warehouse.
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The leases bring Hillsboro Technology Center’s Building E, a 123,290 square foot industrial building and Building F, a 151,852 square foot industrial building, to 100% leased.
GAL Enterprises of Plantation, LLC sold the unit in an off-market deal.
“Like any great deal, this one was 5 years in the making. It was an extreme lesson in perseverance,” commented Genet.
The transaction closed June 9 for $9,075,000, or $118 per square foot.
The sales price equates to $193.00 per square foot.
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