The 82,261-square-foot coolered facility, situated on a 3.34-acre lot east of Milam Dairy Road, was acquired by Iconic Equities, LLC, a Miami-based real estate investment firm specializing in Industrial Outdoor Storage (IOS) and industrial development.
The new development is slated to become one of the first infill logistics projects located along US 441.
The store serves as one of the anchor tenants in the Uptown Boca development.
The restaurant will occupy nearly 17,000 square feet.
Christina Jolley of Blanca CRE represented the landlord in this lease renewal, while Adam Bernstein and Zach Wendelin of JLL represented the tenant.
Here are the most popular news headlines this past week on CRE-sources.
Lone Star Funds announced that an affiliate of Lone Star Real Estate Fund VII, L.P., along with an affiliate of Highline Real Estate Capital LLC and Square2 Capital LLC, acquired the asset, marking the most significant office acquisition in Broward County in the past decade.
The deal marks the first time in nearly a decade that a Fort Lauderdale office building has sold for over $200 million.
The 47-acre transit-oriented community marks the largest public-private partnership in Miami-Dade County history.
The approved site plan encompasses over 405,000 square feet of office space in two buildings, four new retail and restaurant outparcel buildings totaling nearly 43,000 square feet, a nearly 37,000-square-foot luxury fitness facility and 500 multifamily units.