Cushman & Wakefield Arranges Sale, Financing Of Port St. Lucie Industrial Property

Cushman & Wakefield arranged the sale of 500 Stadium Business Center, a 35,056-square-foot industrial property located at 500 NW Stadium Drive in Port St. Lucie.

Cushman & Wakefield’s Greg Miller, Scott O’Donnell, Dominic Montazemi, Miguel Alcivar, and Mike Ciadella structured the sale on behalf of the seller 500 Stadium Business Center LLC and the buyer, 500 Stadium 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 debt fund on behalf of the buyer, 500 Stadium Property, LLC.

“500 Stadium Business Center is the most recently constructed state-of-the-art small-bay light industrial building servicing Port Saint Lucie,” said Miller, Director, Capital Markets at Cushman & Wakefield.

 

“The lender was motivated by a highly experienced sponsor and recognized the desirability and scarce availability of the product type,” added Granite, Director at Cushman & Wakefield. “It provided a competitively priced, floating rate loan that offered flexibility for the sponsor to exit upon stabilization.”

500 Stadium uniquely offers bay sizes less than 1,200 square feet in size, ideal for the many service-oriented firms throughout the growing Port St. Lucie area. Port St. Lucie 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.