non-advertiser
The asset consists of two 11-story office towers and a connected structured parking facility. The property is fully leased and home to a diverse roster of national and global tenants.
The portfolio includes four shopping centers located in Miami-Dade, Broward and Palm Beach counties.
Their expertise spans retail investment sales, sale-leasebacks, development advisory, 1031 exchange transactions, portfolio dispositions, and complex investment strategies nationwide.
Colliers’ Vice President Jake Freeman and Senior Vice President Maggie Kurtz represented the landlord in securing the lease.
Newmark Managing Director Mitch Heifetz is spearheading marketing and leasing initiatives.
He brings more than 20 years of experience across the public and private sectors spanning real estate development, land use and zoning, urban planning, acquisitions and dispositions, asset management, and public-private partnerships.
The shallow bay industrial center is envisioned as a four-phase development that will ultimately deliver approximately 552,000 rentable square feet of industrial space, making it one of the most significant industrial projects underway in St. Lucie County.
The portfolio, which totals 42 residential units, traded for a combined $8.87 million, equating to $211,190 per unit.
The warehouse project was built in 2022 for a joint venture between Orlando-based Cadence Development Partners and New York-based Clarion Partners.
The firm first brought on David Bateman as Managing Director for his operational leadership, broker implementation experience, and 20-year track record including senior roles at CBRE and Avison Young.
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