Cushman & Wakefield Arranges Sale Of Port St. Lucie Industrial Center
The buyer is a joint venture between East Capital Partners, Tramview Capital Management, and ABR Capital Partners.
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The buyer is a joint venture between East Capital Partners, Tramview Capital Management, and ABR Capital Partners.
The $1 billion transit-oriented community will rise across from Miami-Dade County’s SMART Plan Dolphin rapid transit station as part of a public-private partnership.
Currently home to two vacant multifamily buildings, the property will be demolished to make way for a new high-end development featuring exclusive residences.
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The office building will be the only Class A office building in Miami to offer private boat access and dockage.
The small-bay light industrial buildings were 95% leased at the time of sale to 42 tenants.
The property was acquired as part of Stiles’ recently announced acquisitions strategy, which targets value-add retail properties in Florida. A detailed renovation is scheduled to begin early 2025.
The buyer plans to develop the property into a 4-building self-storage facility, with plans already approved for a 150,000 square foot self-storage complex.
The four-story, 93,219-square-foot boutique office building traded for $20 million.
Native has more than tripled its number of brokers in the past year and is actively interviewing senior commercial real estate brokers in Broward and Palm Beach counties.
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