Cushman & Wakefield Reps Seller In Disposition Of 4-Building Industrial & Self-Storage Portfolio

Cushman & Wakefield represented Megacenter Miramar LLC in its disposition of a four-building industrial and self-storage portfolio to TPG Angelo Gordon in partnership with Redfearn Capital and Andover Properties.

Cushman & Wakefield’s Greg Miller, Dominic Montazemi, Anthony Licari, Luke Elliot, Mike Mele, Marc Royer, Mike Davis, Rick Brugge and Rick Colon represented the seller along with industrial leasing colleagues Chris Metzger and Eric Cantor.

Located at 7377-7451 Riviera Blvd. in Miramar, the Class-A industrial portfolio totals 98,201 square feet and is fully leased to 10 tenants. The Miramar industrial portfolio includes two single-tenant buildings and a recently constructed small-bay building. The 85,394 square feet self-storage building offers significant value-add potential through conversion of existing under-utilized space to additional climate-controlled self-storage space.

Situated in the highly desirable Miramar submarket of Broward County, the Portfolio boasts excellent logistical accessibility and prime frontage, located directly north of the Florida Turnpike. Additionally, the Portfolio straddles the Broward and Miami-Dade County border, positioning the Portfolio as a market leader capable of attracting a diverse array of tenants who value its strategic location.

“Given its land-constrained location, best-in-class features, and superior functionality, the Miramar Industrial portfolio is well-positioned for sustained future growth,” said Miller, a Director in Cushman & Wakefield’s Boca Raton office. “This offering represents a rare opportunity to acquire a critical mass of recently constructed light industrial assets in an infill location, establishing a significant presence in the highly sought-after South Florida industrial market.”

 

Added Luke Elliott, a Cushman & Wakefield Vice Chair who specializes in the self-storage sector, “With the unusual blend of self-storage, warehouse and executive offices, this assignment needed a specialized team that had expertise in each of these niches. Our group internally partnered with Greg and his team to create a seamless, bespoke solution for the Megacenter need. After touring the assets and running an extensive marketing process, we selected a buyer that had both self-storage and industrial joint ventures.”