Medley Industrial Site Trades For $11.3 Million Over 2017 Price
CBRE’s Nicolas Palazzo and Andrew Fernandez brokered the deal.
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CBRE’s Nicolas Palazzo and Andrew Fernandez brokered the deal.
Broward College will use the entire fourth floor for classrooms, labs, and meeting space that promote educational goals, including general educational development degrees and college-entry preparation.
Managing Director Scott Wadler, Senior Director Matthew Nihan and Senior Analyst Michael Basinski of Berkadia Miami secured the financing.
The property includes five acres of vacant land and an existing 13,000 square foot building built.
Marcus & Millichap’s First Vice President Investments Ryan Shaw, along with Quinn Sousa, had the exclusive listing to bring the generational assets to market for the first time.
The lease allows Tricera to seamlessly backfill space to be vacated by Comerica Bank, which is moving out of 1675 Midtown when its lease expires in June 2023.
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The site includes two existing industrial buildings totaling 14,605 square feet, leaving plenty of room for future office or industrial development. Its proximity to I-595, Fort Lauderdale International Airport and Port Everglades make the site highly desirable for commercial users.
Stigliano was the broker on the transaction and also worked as the Zoning and Land Use Consultant on the project.
Aztec Group’s Peter Mekras arranged the financing.
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