Lee & Associates South Florida Closes Single Tenant 29,000 SF Industrial Property Sale

Lee & Associates South Florida Principal Greg Milopoulos and Vice President Christian Baena successfully brokered the off-market sale of a Fort Lauderdale warehouse to Stonelake Capital Partners, which closed January 9.

The duo has also been retained by the new owner to exclusively lease the 29,000 sf warehouse with plans to bring it to market this summer.

“We leveraged existing relationships with both the seller and buyer to facilitate a smooth transaction,” Milopoulos said. “We look forward to commencing our leasing campaign on behalf of Stonelake this summer and anticipate substantial interest given the building’s location and features.”

The 1.24-acre property is just two miles from I-95 and three miles from Florida’s Turnpike. It also benefits from being near the prominent Central Broward intersection of Powerline and West Cypress Creek roads. The building includes 3,000 square feet of office space equally split over two stories, two dock-height loading doors, two grade-level doors, 20-foot clear ceilings and over 30 parking spaces.

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 collectively works together representing clients in dispositions and generating investment sales opportunities throughout the tri-county area.

“With this new transaction and leasing assignment, Greg and Christian demonstrate what makes them a formidable tandem and huge asset to our team,” Lee & Associates South Florida President Matthew Rotolante said. “They deftly utilize our firm’s resources to complement the strong relationships and market knowledge cultivated over their impressive careers. We will continue to support their dealmaking efforts and look forward to a very productive 2024 as a firm.”