Avison Young Closes $150M Bulk Condo Sale In Miami’s Edgewater Neighborhood
South Florida-based Two Roads Development acquired the 3.5-acre prime waterfront site with plans for an ultra-luxury branded residential property.
South Florida-based Two Roads Development acquired the 3.5-acre prime waterfront site with plans for an ultra-luxury branded residential property.
The property sold for $532 a square foot, which reflects a 4.11% cap rate.
The growing company has offices in more than 20 countries, with plans to expand and hire 1,100 new employees worldwide with nearly half of its new workforce to be based in Miami.
Gridline Properties represented both sides of the off-market transaction, marking one of the highest price-per-square-foot industrial trades in Palm Beach County.
Here are the most popular news headlines this past week on CRE-sources.
A new lease deal for 98,012 square feet brought the 677,318-square-foot logistics park to full occupancy.
“Having delivered one of our first luxury multifamily projects in Plantation more than a decade ago, we remain highly invested in the city of Plantation and are thrilled to have the opportunity to bring the next generation of amenity-rich, luxury living options to the area with The Ellsworth,” said Jeff McDonough, Stiles Residential Group President.
Ryder Logistics relocated and expanded its third-party logistics operations to Cabot Miramar from Seneca Park in Pembroke Pines, where it previously occupied ±80,000 square feet. The company will take occupancy immediately.
The project will accept cryptocurrency as an option for lease payments.
Robert Listokin with Colliers South Florida represented the seller in the sale of the portfolio totaling 20,820 square feet in Broward County.
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