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.
This deal marks one of the largest user purchases in recent history.
The portfolio was 91% occupied at the time of sale with 21 tenants.
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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.
The sale represents the largest industrial land transaction in Martin County since 2023.
Before joining Colliers, he served as a Director within Cushman & Wakefield’s Corporate Advisory Group.
Beck represented the seller in this off-market transaction, which came to fruition after three years of consistent follow-up and relationship-building.
The portfolio consists of two separate industrial parks, each featuring two dock-high front-load small bay warehouses.
Read on for the most popular news headlines this past week on CRE-sources.