Seventy percent of funds will be allocated to industrial properties in Florida, the Carolinas, Tennessee and Georgia, and the remainder will be divided equally between Florida office and medical office buildings.
Colliers’ Executive Vice President Derek Baker represented the tenant in negotiating the deal. CBRE’s Joe Freitas, John Criddle and Max Pawk represented the landlord, Grover Corlew, in the lease negotiations.
Here are the most popular news headlines this past week on CRE-sources.
The permanent financing provided by City National Bank paid off a bridge loan that Easton used to acquire the Offices at Doral Square for $28.5 million in December 2023.
As a result of this successful transaction, the team has been designated as the sales broker to market three additional office buildings and one retail building in the immediate area.
Here are the most popular news headlines this past week on CRE-sources.
The asset last sold for $99.5 million.
The property includes 45,770 square feet of office space, 11,255 square feet of ground-floor retail, and a 40,000 square-foot parking garage, all contributing to a steady income.
Located at 3600-3998 FAU Blvd., the Research Park includes a total of 308,305 square feet of office space. It is the only state university-affiliated research park in South Florida and considered a premier technology business incubator for the region.
Under the proposal, the project will feature 117,000 square feet of office space in seven stories and 557 parking spaces in six stories.