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.
CBRE’s Larry Genet, Tom O’Loughlin, and Jake Zebede represented the owner in the sale of the industrial warehouse.
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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.
“Like any great deal, this one was 5 years in the making. It was an extreme lesson in perseverance,” commented Genet.
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.
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