Ares Expands in South Florida With $56M Industrial Acquisition
Built in 1995, the warehouse was previously owned by Cabot Properties, which acquired it in 2019 for $33 million.
Built in 1995, the warehouse was previously owned by Cabot Properties, which acquired it in 2019 for $33 million.
Beck represented the seller, Midtown Capital, led by Zach Fox, in the sale. The property was acquired by Adler Properties.
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The 25-acre property will soon feature three state-of-the-art buildings ranging from 60,000 to 300,000 square feet.
Colliers’ South Florida Investment Services Team represented the seller in the sale of the ±77,852-square-foot mixed-use property.
He joins Cushman & Wakefield from Berkadia and has more than 20 years of experience in Florida commercial real estate.
Before joining Transwestern, he served as Executive Managing Director and Principal at Colliers, overseeing approximately 400 professionals while leading Atlanta’s operations and partnership.
The sales closed on consecutive business days.
Stream’s Managing Directors and Executive Vice Presidents Nick Wigoda and Steve Medwin will lead the leasing efforts on behalf of ownership.
The project will feature five residential towers ranging from 21 to 24 stories, with approximately 1,292 rental residences, 36,000 square feet of restaurants and retail, and 1.1 million square feet of access-controlled parking with 2,650 spaces.
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