The mixed-use property features a 20,150-square-foot class A office building with an attached 18,048-square-foot private hangar that can accommodate up to four planes, a luxury 2-bedroom/2-bathroom apartment overlooking the runway, and a prime development opportunity for fee simple-owned land zoned for additional airplane hangars or industrial development.
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Alta Development is developing River District 14 on a 1.3-acre site at 1420 NW 14th Ave., near the Miami River. Construction is expected to begin before the end of the year.
These projects not only represent significant opportunities for Bollig and his clients but also signal the continued upward trajectory of St. Lucie County as a desirable destination for development.
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Senior Director Yoav Yuhjtman, along with Senior Managing Directors Roberto Pesant and Jaret Turkell, and Associate Director Omar Morales of Berkadia South Florida led the transaction on behalf of the seller, New York-based real estate investment firm Axonic Properties.
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Forman Capital’s Ben Jacobson, Scott Mehlman and Ty Regnier originated the loan on behalf of the borrower/sponsor. Jay Miller, Spencer Miller and Noah Rothman of BayBridge Real Estate Capital brokered the financing. The transaction closed on August 29.
Here are the most popular news headlines this past week on CRE-sources.
Jaime Sturgis brokered all three deals, which have a combined sale price of $8.6 million.