Lyons Technology Center Sells For $49 Million

JLL Capital Markets arranged the sale of Lyons Technology Center, a six-building light industrial portfolio totaling 232,833 square feet in Coconut Creek for $48.9 million, equating to $214 per square foot.

JLL represented Principal Asset Management in the sale to Stockbridge.

The light industrial portfolio was built between 2002 and 2004 and is generally located at the northwest intersection of Lyons and Johnson Roads. The buildings feature ample clear heights, a combination of rear-load and front-load configurations, shallow bay depths, and 572 parking spaces. At the time of sale, the buildings were 89.1% leased to 44 tenants across diverse industries.

Lyons Technology Center is situated less than one mile north from the Lyons Road on-ramp to the Sawgrass Expressway (SR-869), which connects to Florida’s Turnpike, State Rd. 7 and I-95. The properties are also located in the City of Coconut Creek within the Broward County market and a 34-minute drive from Fort Lauderdale’s CBD. The site’s proximity to multiple major highway systems allows users to reach over 5.5 million people in a 60-minute drive.

The JLL Capital Markets Investment Sales team was led by Managing Director Luis Castillo, Director Cody Brais, Director Wells Waller and Analysts Taylor Osborne and Aaliyah St. Louis.