While working through the sale and due diligence period, Milopoulos secured a full-building tenant, East Coast Cabinetry, with the assistance of the tenant’s broker Richard D. Abraham, CCIM, SIOR, Broker-President with Abraham & Associates.
The development team plans to transform the site into a modern, Class-A industrial campus featuring two warehouse buildings totaling approximately 182,000 square feet.
Beck represented the seller in this off-market transaction, which came to fruition after three years of consistent follow-up and relationship-building.
The transaction was brokered by SVN | Commercial Partners’ Lydia Montaigne, along with co-brokers Michael Oretsky and Tom O’Loughlin of CBRE.
Joseph Byrnes, Senior Vice President with Berger Commercial Realty, represented the seller in the deal.
The 124,500-square-foot property consists of two rear-load buildings completed in 2021.
The buyers plan to redevelop the site into a modern industrial campus comprising two Class-A warehouse buildings totaling approximately 182,000 square feet.
The seller was represented in the transaction by Berger Commercial’s experienced team comprised of Senior Vice President Keith Graves, SIOR, CCIM, Sales Associate Daniel Forman, Senior Vice President Jonathan Thiel, and Vice President Lawrence Oxenberg.
The exclusive leasing team for the project—Sky Groden, SIOR; Ken Morris, SIOR; and Jeremy Cain of JLL—represented Bridge in the lease transaction.
The 4,502-square-foot live-work, loft-style industrial building—located at 437 NW 1st Avenue—was sold by the Charles L. Peet Revocable Trust.