Berger Commercial Realty Expands Brokerage Team
He will be focusing on industrial leasing and sales within the South Florida market.
He will be focusing on industrial leasing and sales within the South Florida market.
The buyer paid $5,350,000 for the asset.
Foundry and HighBrook purchased the property from a family business unit that had owned AIC for more than 20 years.
The tenant leased the entirety of Building Two and half of Building One.
CBRE’s Larry Genet and Tom O’Loughlin represented the landlord in the deal.
The property consists of one recently developed rear-load 32-foot clear industrial distribution building containing approximately 221,000 square feet on 11.4 acres.
Bridge’s growing South Florida asset management portfolio currently spans 5 MSF+ of Class-A industrial space.
Berkadia arranged $14.1 million in acquisition financing on behalf of Foundry Commercial for the acquisition.
“Like any great deal, this one was 5 years in the making. It was an extreme lesson in perseverance,” commented Genet.
The 92,972-square-foot development site, which is located at 16 SE 2nd St in downtown Miami, is currently home to a parking lot.
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