Another Riviera Beach Warehouse Trades
Tyler Kuhlman with CBRE Capital Markets in Boca Raton represented the buyer and seller in the transaction.
Tyler Kuhlman with CBRE Capital Markets in Boca Raton represented the buyer and seller in the transaction.
South Florida commercial real estate’s top talent and transformative projects honored during signature event. Manny De Zarraga received the Lifetime Achievement Award.
The portfolio was 93% occupied at the time of the sale by a diverse tenant mix across various industries.
The four-story, 93,219-square-foot boutique office building traded for $20 million.
He has also been consistently recognized by NAIOP South Florida, including Sale of the Year (2023), Private Office Sale of the Year (2021, 2022), Rookie of the Year award (2018), and Capital Markets Team of the Year (2017).
David Wigoda, SIOR with CBRE Capital Markets represented the seller in the transaction.
The team has closed over $25 billion in multifamily transactions.
Future renovations planned include further upgrades to the building lobbies, additional building amenities, a new state-of-the-art conference facility, and continued upgrades to the common areas and restrooms.
Quickly rising interest rates accelerated the loan closing as the lender was only willing to hold a very favorable rate for a short period of time. The loan also included additional funding for the development of a vacant outparcel located on the site.
The price equated to $267 per square foot.
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