East Capital Partners, ABR Secure $30 Million In Financing For Palmetto Industrial Park
The portfolio consists of six buildings constructed between 1981 and 1982 on 7.66 acres.
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The portfolio consists of six buildings constructed between 1981 and 1982 on 7.66 acres.
At full build-out, Midtown Park will feature six towers, including four residential buildings and two office structures.
The complex sale was exclusively handled by Tony Ulloa and Marcos Macias.
This sale marks a lucrative exit for the sellers, who bought the tower about seven years ago for $248.5 million.
The two fully leased Class A buildings total 312,834 square feet.
The lot, located at 3000 SW 28 Street in Miami, is currently occupied by Farrey’s Lighting & Bath, a 100-year-old family-run business.
Located at 7909–7911 East Drive, the site spans 23,707 square feet and is currently occupied by two older residential buildings totaling 29 units.
Kirk Olson and Drew Kristol, Marcus & Millichap senior managing director investments, represented the seller, Galium Capital, and procured the buyer, an affiliate of JBL Asset Management.
The 92,089-square-foot retail center is 100% leased and anchored by Milam’s Market, Walgreens, Orion Fuels and Ace Hardware.
The dining venue will span over 20,000 square feet across three levels of indoor and outdoor space.
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