South Florida Warehouse Sells In $55M Deal, More Than Doubles Value In 4 Years
Dalfen Industrial paid $25,294,000 for the property in July 2020.
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Dalfen Industrial paid $25,294,000 for the property in July 2020.
In their new roles, they will primarily focus on debt and equity advisory across various property types, reinforcing the team’s expertise and regional presence.
The fully occupied property features a 25,000-square-foot building on a 2.1-acre lot.
Financing for the development includes a $32.2 million tax credit equity from Bank of America; a $9.1 million conventional first mortgage loan from Berkadia/Freddie Mac; a subordinate $6 million Surtax loan from Miami-Dade County; and the balance with developer equity.
Florida East Coast Realty (FECR) is offering commercial/office space for lease at the building ranging from approximately 19,000 square feet on the 16th floor to 52,000 square feet on the 17th floor, with a contiguous block of ±72,000 square feet still available.
During his tenure as President and Head of Leasing at Tricera Capital, he was instrumental in developing and implementing the company’s institutional leasing platform, a testament to his ability to drive growth.
Oak Row Equities purchased the $38.5 million site off-market.
JLL was also involved in the 2023 sale of the resort to Trinity and funds advised by UBS Asset Management, which represented the third largest single-asset hotel sale ever in the U.S. at the time.
The property is currently over 90 percent sold.
The project will consist of a Class A, two-building, variable-depth multi-tenant industrial development totaling 457,110 square feet situated on 30.78 acres.
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