Cushman & Wakefield Arranges 30,000-SF Office Lease
C&W’s Travis Herring and Katherine Ridgway of Cushman & Wakefield represented the landlord, IP Capital, in the lease negotiations.
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C&W’s Travis Herring and Katherine Ridgway of Cushman & Wakefield represented the landlord, IP Capital, in the lease negotiations.
The deal equates to about $318 a square foot for the nearly 243,000-square-foot complex.
The 100% occupied, 33,557-square-foot portfolio traded for $239,535 per unit.
The venture led by Parmenter will invest significant capital to enhance and reposition the property, establishing it as a new innovation hub in Doral.
The company manages and leases a ±4-million-square-foot, 41-property portfolio throughout the state of Florida comprised primarily of grocery-anchored shopping centers as well as mixed-use and office properties.
They were able to procure the buyer for $395,000 over list price.
Senior Managing Director Charles Foschini and Managing Director Chris Apone of Berkadia Miami secured the financing on behalf of the ownership.
The buildings total approximately 62,000 square feet.
The unique, two-story Walgreens is one block away from Ocean Drive.
All the new tenants are expected to open for business in the Spring of 2022.
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