Granite REIT Acquires Fully Leased Logistics Center In Broward County
The 124,500-square-foot property consists of two rear-load buildings completed in 2021.
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.
The portfolio totals more than 221,000 square feet.
One tenant was represented by Tom O’Loughlin of CBRE, and the other was represented by Steve Medwin and Nick Wigoda of Newmark Southern Region LLC. Peter “PJ” Apol and Ryan Goggins represented Sunbeam Properties & Development in both deals.
The deal includes three warehouses totaling approximately 458,000 square feet.
Mike Davis, Dominic Montazemi, Rick Brugge, Rick Colon, and Greg Miller of Cushman & Wakefield represented the seller, Midtown Group, in the transaction. The building was acquired by NorthBridge. Rick Etner, Matthew McAllister, Christopher Thomson, and Chris Metzger of Cushman & Wakefield’s South Florida Industrial Team also supported the sale process.
The investment firm plans to acquire an additional two to four properties this year.
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