Fully Occupied 133,914-SF Industrial Building In Miami Trades Hands
CBRE National Partners’ José Lobón, Trey Barry, Frank Fallon, and Royce Rose represented the seller, New York-based Lightstone in partnership with Mavik Capital, in the transaction.
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CBRE National Partners’ José Lobón, Trey Barry, Frank Fallon, and Royce Rose represented the seller, New York-based Lightstone in partnership with Mavik Capital, in the transaction.
Dalfen Industrial paid $25,294,000 for the property in July 2020.
In their new roles, they will primarily focus on debt and equity advisory across various property types, reinforcing the team’s expertise and regional presence.
The industrial building, fully leased to Aramark, a Fortune 500 company with over 18 billion dollars in annual revenues, was purchased for $135 per square foot and has a new five year lease.
The fully occupied property features a 25,000-square-foot building on a 2.1-acre lot.
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The property sold for $1,575,000.
Financing for the development includes a $32.2 million tax credit equity from Bank of America; a $9.1 million conventional first mortgage loan from Berkadia/Freddie Mac; a subordinate $6 million Surtax loan from Miami-Dade County; and the balance with developer equity.
Florida East Coast Realty (FECR) is offering commercial/office space for lease at the building ranging from approximately 19,000 square feet on the 16th floor to 52,000 square feet on the 17th floor, with a contiguous block of ±72,000 square feet still available.
During his tenure as President and Head of Leasing at Tricera Capital, he was instrumental in developing and implementing the company’s institutional leasing platform, a testament to his ability to drive growth.
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