Lee & Associates’ Greg Milopoulos And Christian Baena Close 2 Industrial Off-Market Deals

Lee & Associates South Florida Principal Greg Milopoulos and Vice President Christian Baena successfully brokered the off-market sale of two industrial buildings. The duo represented Stonelake Capital Partners in the transactions.

The first transaction involves an industrial sale-leaseback in Pompano Beach. The duo represented both the buyer and seller in this off-market transaction – its fifth closed deal in Broward County this year.

Located at 1701 Blount Road, the multi-tenant building also includes 3,500 square feet of office space and has three dock-high doors, one grade-level door and 20’ clear ceiling height.

Stonelake, who acquired the asset for $7.25 million, is an existing client of Milopoulos and Baena. This closing marks its third of the year with the team.

The transaction closed July 24.

Milopoulos and Baena procured the off-market seller, PAVI LLC (aka Mikro Corp.), to facilitate the sale. PAVI leased back 26,000 square feet within the 33,300-square-foot warehouse building as part of the transaction.

In the second off-market transaction, Milopoulos and Baena represented Stonelake in the purchase of a 24,050-square-foot warehouse located at 5251 NW 103rd Ave. in Sunrise.

Stonelake purchased the asset for $5.27 million. The deal closed July 1.

Located on 1.7 acres, the building is fully leased to an undisclosed tenant and features dock height doors, 22’ clear ceilings and a surface parking lot.

“We continue to create opportunities for our existing client to expand its South Florida commercial real estate portfolio while also building relationships with those open to the idea of selling. You often hear that there is only one winner in negotiations, but we’ve found in each of our dealings with Stonelake, both parties have walked away as winners,” Milopoulos said. “In this instance, we identified a mutually beneficial opportunity for the seller to maintain its presence in the building and Stonelake to acquire a prime industrial asset.”

Milopoulos and Baena have more than 20 years of development, investment sales, landlord and tenant representation experience in South Florida. They joined Lee & Associates South Florida in 2023, with Milopoulos heading up the firm’s Broward County industrial activities out of its Deerfield Beach office, and Baena working out of its Miami office. The duo who has closed on just over 150,000 square feet of sales and leases this year. They collectively work together representing clients in dispositions and generating investment sales opportunities throughout the tri-county area.