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CBRE’s Robert Smith and Kirk Nelson represented the buyer, SL Acquisitions LLC, a Silverman Group Company, in the transaction and will handle leasing efforts under the new ownership.
The property was 100% occupied at the time of the sale.
Scheduled to open in August, the 10,000-square-foot space will serve as Postr’s operational and creative hub as the company continues to expand.
With sales led by Key International and ONE Sotheby’s International Realty, the building is expected to commence construction within the next 12 months.
The portfolio totals nearly 300,000 square feet and is over 90% occupied.
The properties were sold by Frisbie Group-affiliated ownership, along with entities tied to ophthalmologist Dr. Stephen Sullivan and Marcia Sullivan.
Adam Marcuvitz, Joeseph Thomas, Ethan Krauss and Alec Demetriou of Marcus & Millichap exclusively marketed the property on behalf of the seller.
The property, which was 92% occupied at the time of sale, had been under the same private ownership for the past 20 years.
The transaction was represented by Mike Beckert, Chris Haass, and Scott Witkowski of Cohen Commercial Realty (CCR) on behalf of the tenant. Sabrina Stimming and Ruben Suarez of Colliers represented the landlord.
Nelson Garcia of RARE CRE represented the seller in the acquisition. Michael Basinski and Mitch Sinberg of Berkadia Boca Raton arranged a $31.75 million acquisition loan through City National Bank.
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