Newmark Selected To Lead Leasing Of 75,000 SF Retail/Creative Office Property In West Palm Beach
Newmark Managing Director Mitch Heifetz is spearheading marketing and leasing initiatives.
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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.
Stream Managing Directors & Executive Vice Presidents Steve Medwin and Nick Wigoda represented both the landlord and the tenant in the transaction.
The property comprises 8,599 square feet on 1.11 acres and was built in 1993. It is occupied by Shell and Dunkin’.
The new Weston location is near the company’s existing 64,000-square-foot headquarters in Miramar.
The expansion brings Garmin’s total footprint within the Park to approximately 364,606 square feet.
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