Combined, the entities have a primary market area that covers all of south and southwest Florida with a combined 4 offices.
Here are the most popular news headlines this past week on CRE-sources.
Fuse Specialty Appliances expanded from 18,650 square feet in Building F to 51,837 square feet into the newly constructed Building H.
Known as South Florida Logistics Center 95, the park is expected to lure tenants from nearby Palm Beach and Broward counties due to competitive rent rates, a cheaper cost of living for workers and a world-class logistics and transportation network that places users within three hours of 70% of the state’s population.
CBRE’s Mike Oretsky, Tom O’Loughlin, and Larry Genet and Berger Commercial’s Jonathan Thiel and Keith Graves represented the tenants in the lease deals.
Still in the planning stages, Fifield looks to develop a mixed-use apartment community on their newly acquired site.
The purchase price amounts to $234 per square foot.
Dennis Carson with CBRE represented both the buyer and seller in the transaction.
CREC Capital’s co-founders Alan Esquenazi and Warren Weiser facilitated the sale. Danny Finkle and Eric Williams from JLL represented the buyer, an entity controlled by Wharton Realty Group, in the transaction.
The Richman Group of Companies acquired the asset with plans to develop 396 multi-housing units within a single mid-rise building including structured parking.