Newmark’s Co-Presidents of Global Debt & Structured Finance Jordan Roeschlaub and Jonathan Firestone, Vice Chairman Nick Scribani, and Director Chris Lozinak secured the financing from Barings.
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The 4,502-square-foot live-work, loft-style industrial building—located at 437 NW 1st Avenue—was sold by the Charles L. Peet Revocable Trust.
The transaction was facilitated by Chris Gallagher of Blanca Commercial Real Estate, who represented the landlord in the deal. Marshall Chandler and Gus Martinez of CMV Commercial / The Martinez Team represented Century Cruise Line in securing their new South Florida office.
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The project is nearing completion, with the West Tower fully topped out and slated for delivery at the end of 2025 and the newly launched East Tower targeting completion in 2027.
The transaction included both a deed-in-lieu-of-foreclosure and a conventional sale supported by new financing.
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Gordon Messinger and Randy Carballo with CBRE represented the landlord in all lease negotiations.
The company intends to invest an additional $10 million into refurbishing the property.