McCraney Property Company Sells Small-Bay Industrial Portfolio
The portfolio sold for $49 million.
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The portfolio sold for $49 million.
The second phase will consist of 342 rental units on a 2.7-acre development site with over 400 feet of unobstructed water frontage along the Miami River.
Transwestern’s Carlos Gaviria, Walter Byrd, Ben Eisenberg and Thomas Kresse represented the tenant in the transaction.
The Mary Brickell Village location will be the restaurant’s ninth location.
Ownership is also planning extended wellness offerings for tenants. Currently the property offers complimentary weekly yoga classes, healthy snacks in the tenant lounge and a complimentary UBER service connecting One Clearlake to Downtown West Palm Beach.
Known as South Florida Logistics Center 95, the park is expected to lure tenants from nearby Palm Beach and Broward counties due to competitive rent rates, a cheaper cost of living for workers and a world-class logistics and transportation network that places users within three hours of 70% of the state’s population.
Still in the planning stages, Fifield looks to develop a mixed-use apartment community on their newly acquired site.
The purchase price amounts to $234 per square foot.
Dennis Carson with CBRE represented both the buyer and seller in the transaction.
CREC Capital’s co-founders Alan Esquenazi and Warren Weiser facilitated the sale. Danny Finkle and Eric Williams from JLL represented the buyer, an entity controlled by Wharton Realty Group, in the transaction.
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