Berger Commercial Realty Senior Vice Presidents Jonathan Thiel and Keith Graves, CCIM, SIOR, along with Vice Presidents Daniel Forman and Lawrence Oxenberg represented the seller in the transaction.
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The transactions include medical office, retail, industrial, multifamily and mixed-use properties across South Florida and Texas.
A global spirits company is moving its North American regional operations into a prominent Coral Gables mixed-use development, bringing hundreds of employees to the property.
Small-bay warehouse properties remain in high demand, particularly in locations offering convenient access to major transportation corridors.
This was the first time the property was on the market for sale since the seller, Tricon Development, purchased the property over 30 years ago.
“As PEBB continues to grow, we are focused on bringing in talented professionals who share our commitment to operational excellence and long-term value creation,” PEBB President and CEO Ian Weiner said.
Prior to closing the sale, the joint venture inked a lease expansion with Cleveland Clinic to occupy the entire 68,000-square-foot Class A medical office development, doubling its previously announced space commitment.
The property features approximately 115 feet of frontage along Lincoln Road and is currently occupied by a diverse tenant roster.
Avison Young brokered the sale.