non-advertiser
Rivr Lofts, completed in November 2024 and currently 65% leased, offers a mix of studios, one- and two-bedroom residences averaging 649 square feet across 231,113 rentable square feet.
If finalized, this would mark the largest office sale in South Florida so far this year.
The property consists of 29,331 square feet of retail space and a 35,000-square-foot self-storage facility with 419 units.
The Newmark team, led by Senior Managing Director Jeremy Hakala and including Managing Director Matt Himmelsbach and Director Brandon Shores, will lead leasing efforts on behalf of ownership.
The project includes replacing approximately 600 feet of existing seawall and 1,000 feet of floating docks, two new pre-engineered metal buildings, a state-of-the-art ship store, 8,999 square feet of retail office space and 9,724 square feet of work bays to meet member needs.
The transaction was brokered by SVN | Commercial Partners’ Lydia Montaigne, along with co-brokers Michael Oretsky and Tom O’Loughlin of CBRE.
The development site spans 4.2 acres.
The sale price equates to approximately $370 per square foot.
The company will now occupy the entire top floor of 1489 W. Palmetto Park Road, totaling 30,000 square feet.
The 124,500-square-foot property consists of two rear-load buildings completed in 2021.
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