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.
The transaction closed June 9 for $9,075,000, or $118 per square foot.
The sales price equates to $193.00 per square foot.
The 10,000-square-foot lease marks another milestone in the company’s continued growth after only three years in the South Florida market.
“We have known Les and Steve for many years and we have a long history and successful track record working together to complete sale and lease transactions due to our close communication, trust and confidence in each other’s abilities,” explained Alan Levy. “It has been such a pleasure to work with both of them again on these recent deals.”
The acquisition increases the company’s South Florida portfolio to 103 buildings totaling over 5.4 million square feet.
“This free-standing, single-user industrial building is a rare find that is in high demand in today’s highly competitive industrial market,” said Etner.
Newmark’s Executive Managing Directors Steve Medwin and Nick Wigoda, along with Managing Director Alan Long, were the sole brokers on the transaction.
The lease deal brings Building G at Davie Business Center, which totals 114,774 square feet, to 100% leased.