Tigertail of Hollywood LLC acquired Stirling Industrial Park, the retail, flex and industrial park at 2832 – 2858 Stirling Road in Hollywood, Florida from Stirling Industrial Park LLP. The purchase price was $10 million, or about $102 per square foot, in an all-cash transaction.
Constructed in 1975, the multi-property complex is comprised of eight buildings that total 98,000 square feet. Occupancy was approximately 87% across the 116 rental units that make up the park, with average rental rates hovering at $12.64 per square foot. The properties were managed by Warehouse Management Services, Inc.
Randy North and Olga Rosado of Capital Commercial Real Estate Group represented the seller and were the sole brokers in the deal.
Get the latest industry news and information from CRE-sources delivered right to your email inbox! And we promise…no more than one email each morning.
And we promise…no more than one email each morning.