Cushman & Wakefield Arranges $14.15M Sale Of Light Industrial Property

Cushman & Wakefield arranged the sale of Fortune Way Bays, a three-building infill light industrial property located in Wellington.

The final sale price was $14.15 million.

Greg Miller, Scott O’Donnell, Dominic Montazemi, Mike Ciadella, Miguel Alcivar and Jason Hochman of Cushman & Wakefield represented the seller, Pine Plaza Properties LLC, in the transaction. Kirk Nelson and Robert Smith of CBRE were also part of the listing team. Chandaris Investment LLC acquired the property.

“Fortune Way Bays featured long-term tenant stability paired with the opportunity to achieve immediate upside through lease-up as space becomes available,” Miller said. “The property is well-positioned in the prosperous Village of Wellington and will continue to benefit from the area’s demographic growth and world-renowned equine industries, which has demonstrated unwavering resiliency during the pandemic.”

Located at 3125-3141 Fortune Way, the property sits within Wellington Park of Commerce, a 40.58-acre master planned business campus comprising of approximately 600,000 square feet of office, flex and self-storage units. Fortune Way Bays is 100% leased to more than 40 tenants ranging from light industrial to athletic and recreational uses.

 

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