SVN Commercial Partners Collaborates On $9 Million Build-For-Rent Land Sale In Florida’s Treasure Coast
This transaction underscores the continued activity on the Treasure Coast, specifically in Port St. Lucie and Fort Pierce.
This transaction underscores the continued activity on the Treasure Coast, specifically in Port St. Lucie and Fort Pierce.
Zach Levine, Douglas Mandel and Josh Gilbert, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
Located at Ponce de Leon Boulevard and Bird Road in Coral Gables, 4000 Ponce features 150,000 square feet of Class A office space and 32,000 square feet of prime ground-floor retail. The building is more than 90% leased.
He will work closely with Lee & Associates South Florida Principal Bert Checa, who heads up the firm’s Office Landlord Agency and Tenant Representation team.
Managing Director Scott Wadler and Vice President Michael Basinski of Berkadia Miami, secured a $36.08 million loan on behalf of the developer, Fortune International Group.
The JV will expand their portfolio with the development of five Class A medical office buildings in Florida.
The acquisition marks Ciprés’ second major development project in South Florida and represents a significant expansion northward for the Miami-based company.
The joint venture intends to redevelop the 11.3-acre Signature Grand site into The Park at Davie.
Trustone Advisors successfully negotiated the sale in an off-market transaction.
Native Realty’s Jaime Sturgis and Sara Dorfman closed the property sale on behalf of the seller after just 21 days on the market.
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