The Easton Group, Stonemont, Cerberus Partner To Acquire Riviera Industrial Site
Easton has submitted plans with the city to build a logistics-oriented facility.
Easton has submitted plans with the city to build a logistics-oriented facility.
The tenant, a major wholesaler and distributor of Asian food products, will be relocating and expanding from its current location at 1728 Park Central Blvd S. in Pompano Beach, where it currently occupies 32,954 square feet.
The property consists of 35,850 square feet of retail space along University Drive, plus 19,680 square feet of office suites tucked behind the shopping center.
CBRE’s Christian Lee, Chris Riley, José Lobón, Amy Julian, and Royce Rose represented Butters in the transaction.
“Modern, last-mile logistics centers like Bridge Point Commerce Center continue to outperform the market,” said Kevin Carroll, Partner, Southeast Region of Bridge Industrial. “We are pleased to have been able to take advantage of historically low interest rates and lock into an extremely attractive fixed rate.”
The firm moved from Palmetto Park City Center at 120 E. Palmetto Park Road.
CBRE arranged the loan for the $174 million purchase to a joint venture between funds managed by Honolulu-based Trinity Fund Advisors LLC, an affiliate of Trinity Real Estate Investments LLC (“Trinity”), and New York-based private equity firm Certares Real Estate Management LLC.
The lease and sale transactions total over 80,920 square feet.
Lee & Associates South Florida President Matthew Rotolante and Vice President Conner Milford represented tenants in the deals.
Paco Diaz with CBRE represented Plum Market in the lease.
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