Zach Levine, Douglas Mandel and Josh Gilbert, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
The joint venture intends to redevelop the 11.3-acre Signature Grand site into The Park at Davie.
Trustone Advisors successfully negotiated the sale in an off-market transaction.
Here are the most popular news headlines this past week on CRE-sources.
Excel Construction transformed an empty shell into a first-generation workspace that includes 12,862 sq. ft. of office space, and 253,390 sq. ft. of warehouse/packaging space.
CBRE National Partners’ José Lobón, Trey Barry, Frank Fallon, and Royce Rose represented the seller, New York-based Lightstone in partnership with Mavik Capital, in the transaction.
Dalfen Industrial paid $25,294,000 for the property in July 2020.
In their new roles, they will primarily focus on debt and equity advisory across various property types, reinforcing the team’s expertise and regional presence.
The industrial building, fully leased to Aramark, a Fortune 500 company with over 18 billion dollars in annual revenues, was purchased for $135 per square foot and has a new five year lease.
The fully occupied property features a 25,000-square-foot building on a 2.1-acre lot.