Cushman & Wakefield Arranges Sale, Financing Of Newly Constructed 2-Building Portfolio

Cushman & Wakefield has arranged the $14,559,190 sale of Peacock Business Center, a newly constructed two-building portfolio totaling 61,954 square feet located at 330 NW Enterprise Dr. and 460 NW Peacock Blvd. in Port St. Lucie.

Cushman & Wakefield’s Greg Miller, Scott O’Donnell, Dominic Montazemi, Mike Ciadella, and Miguel Alcivar structured the sale on behalf of the seller, 460 Peacock Business Center LLC, and the buyer, 30 Enterprise Property, LLC & 460 Peacock Property, LLC, whose principal firms comprise a joint venture between East Capital Partners, Tramview Capital Management, and ABR Capital Partners.

Jason Hochman and Ron Granite of Cushman & Wakefield’s Equity, Debt & Structured Finance team also secured acquisition financing through a bank on behalf of the buyer.

“Situated in the heart of Port St. Lucie, these buildings were constructed upon a thesis to service the rapid residential growth underway in surrounding area. The astronomical growth occurring in Port St. Lucie currently paired with limited small-bay industrial inventory has created favorable market leasing fundamentals,” said  Miller, Director, Capital Markets at Cushman & Wakefield.

 

“At nearly full occupancy, lenders appreciated the steady cash-flow the properties could produce and also recognized the significant additional value our experienced client could unlock through active management,” added Hochman, Executive Director at Cushman & Wakefield.

Built in 2022, Peacock Business Center includes two best-in-class newly constructed small-bay light industrial buildings that were 95% leased at the time of sale to 42 tenants. Property features include bay sizes averaging 898 square feet, windows and doors with impact glass, a portion of dedicated office space that is already built out, and clear heights of 14 feet.

Peacock Business Center is situated in Port St. Lucie, which is conveniently located halfway between Miami and Orlando and is served by Interstate 95, the Florida Turnpike, Florida East Coast Rail, Port of Fort Pierce, and the Treasure Coast Airport.