CRE-sources’ Top 5 Most Popular Stories This Week
Read on for the most popular news headlines this past week on CRE-sources.
Read on for the most popular news headlines this past week on CRE-sources.
Lawrence Oxenberg, Vice President at Berger Commercial Realty, represented the buyer in the transaction. Berger has been retained by the new ownership to lease the property.
While working through the sale and due diligence period, Milopoulos secured a full-building tenant, East Coast Cabinetry, with the assistance of the tenant’s broker Richard D. Abraham, CCIM, SIOR, Broker-President with Abraham & Associates.
This deal marks one of the largest user purchases in recent history.
The portfolio was 91% occupied at the time of sale with 21 tenants.
Firm CEO Jaime Sturgis and COO Kaley Tuning represented the seller in the $5 million transaction, which equates to $650 per square foot.
The project replaces a formerly underutilized office property and aligns with the City of Fort Lauderdale’s long-term vision for Uptown Urban Village, which is aimed at bringing more residences and mixed-use development to the area near the Cypress Creek Tri-Rail Station and Fort Lauderdale Executive Airport.
Drew Kristol and Kirk Olson exclusively marketed the property on behalf of the seller.
Read on for the most popular news headlines this past week on CRE-sources.
The development team plans to transform the site into a modern, Class-A industrial campus featuring two warehouse buildings totaling approximately 182,000 square feet.
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