Powerline Business Park Trades As Part Of Stockbridge Capital Group 1.7 MSF Disposition
The portfolio was sold in four separate transactions to two different buyers.
The portfolio was sold in four separate transactions to two different buyers.
The companies plan to develop a 595,000-square-foot depot facility at the site.
Senior Vice Presidents Keith R. Graves, CCIM, SIOR and Jonathan Thiel as well as Sales Associates Daniel Forman and Lawrence Oxenberg will spearhead the leasing initiatives for a diverse range of buildings within the portfolio.
Thad Adams, Managing Director of Brokerage Services at The Allen Morris Company, along with Rafael del Rosal and Maricarmen Cabrera, also with The Allen Morris Company, represented the tenant in lease negotiations. Kevin Gonzalez, Senior Vice President, Tom Farmer, Vice President and Stephen Rutchik, Vice Chairman with Colliers, represented the landlord.
The transaction ranked as South Florida’s largest urban retail lease in 2023 and the fourth-largest retail lease deal overall.
The property features a full block’s frontage on Biscayne Boulevard between 25th and 26th streets.
Jake Zebede, Owner of Trustone Advisors, and Joseph Linder, Associate, played a pivotal role in the transaction.
Here are the most popular news headlines this past week on CRE-sources.
The first phase of the affordable/workforce apartment community will deliver 120 apartments catered to seniors in Leisure City of southern Miami-Dade.
The office is launching with seven to ten attorneys plus a support team. The firm has nearly 30 lawyers across its three locations, which include Manhattan, New York; Palm Beach, Florida and Miami offices.
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