The recent leasing activity includes a 150,181-square-foot lease in Building A to an aviation maintenance provider specializing in jet engine repair and maintenance, a packaging company focused on plastic bottle manufacturing, leased 73,467 square feet in Building B, and the remaining 24,288 square feet available in Building C was leased by a Brazilian shoe manufacturer.
Renewing the lease would have resulted in rent increasing by roughly three times the firm’s prior rate.
CBRE’s Ben Silver and Evan Fript represented the seller, Excelsior Capital, in the transaction.
Andrew Lehrer and Wayne Schuchts with SRS Real Estate Partners, along with Denise Chaimovitz, MA, SIOR of Entre Commercial, represented Setna in the lease negotiations. Devin White, Tom O’Loughlin, and David Albert with CBRE represented the landlord, Dalfen Industrial.
The deals include a full-floor new-to-market tenant and multiple renewals.
CBRE’s Ben Silver and Evan Fript represented the seller in the transaction.
The tenants will be relocating from other parts of the market, ranging in size from approximately 2,000 to over 6,400 square feet.
The deal marks one of the largest medical office leases in Port St. Lucie in 2025.
Sean Kelly, vice president at CBRE, said, “The submarket has attracted over 700,000 square feet of tenant relocations from other parts of Miami, as decision-makers prioritize proximity to home. Additionally, more than 150,000 square feet of new-to-Florida tenants have selected Coral Gables for their Miami headquarters.”
The 140-unit luxury apartment community was completed in July 2023.
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