Senior Managing Director Charles Foschini, Managing Director Christopher Apone and Associate Director Robert Iudice of Berkadia South Florida arranged the loan.
The lease transactions in West Palm Beach, Broward and Miami-Dade Counties total 96,453 square feet on 12.5 acres.
“The stabilized multi-tenant retail/office property with a national retailer occupying majority of building provided a perfect investment opportunity for the buyer.”
Following these transactions, there remains only 76,373 square feet in the newly constructed Building H, featuring 2,330 square feet of modern office.
The sale closed at a record $784 per square foot.
With more than 12 years of commercial real estate experience, she is a seasoned advisor that has participated in over three million square feet of leasing activity throughout her career.
Here are the most popular news headlines this past week on CRE-sources.
Jon Blunk, Laurel Oswald, Constance Thomas and Cristina Glaria of TCRE are leading the office leasing efforts at the four-story office building.
“There has never been a more exciting time in South Florida Real Estate and we are thrilled to launch Vertical Real Estate with a team that brings an innovative and community-focused approach to this industry,” said Stern.
The purchase represents the expansion of the companies’ manufacturing facility from an 18,000-square-foot location in Fort Lauderdale to more than double the space at the new site in Pompano Beach.