“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.
“The property sold for close to $700 per square foot, which is noteworthy for an open-air strip center.”
The property sold to a joint venture between Lone Star Funds and Woolbright Development.
Windstar Cruises will be relocating its corporate headquarters, including 30 to 40 employees, from Seattle to the six-story building.
Christian Lee, José Lobón and Marcos Minaya of CBRE Capital Markets, and Jay Adams with Newmark represented the seller, Encore Capital Management, in the transaction.