The luxury yachting company will occupy the 175,510-square-foot building’s entire 11th floor penthouse accommodating nearly 60 employees.
The 131,680-square-foot property consists of two single-tenant net leased buildings.
At the time of sale, The Shops at Village Square was fully occupied by 15 retail, office, and service tenants.
Larry Genet, Tom O’Loughlin and Christina Searles with CBRE represented both the buyer and seller in the transaction.
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.
CBRE Executive Vice President John Criddle, First Vice President Joe Freitas, Senior Associate Max Pawk and Transaction Manager Allie Lancashire have been tapped to lease the buildings.
CBRE Executive Vice President John Criddle, First Vice President Joe Freitas and Transaction Manager Allie Lancashire signed the lease deals.
Before joining Colliers, she was Senior Vice President at CBRE, where she focused on leasing and development management for many of South Florida’s premier office properties.
John Criddle and Joe Freitas with CBRE represented the landlord, Ivy Realty Services, in lease negotiations.
The three-building Class A portfolio is fully leased to six tenants.
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