The leases bring Hillsboro Technology Center’s Building E, a 123,290 square foot industrial building and Building F, a 151,852 square foot industrial building, to 100% leased.
The sales price equates to $193.00 per square foot.
The office building represents McGuire Development Company’s first Southeast Florida acquisition.
Avison Young’s Florida Capital Markets Group negotiated the sales.
Ronald Meyerson, P.A, Senior VP of Multifamily Sales with Cedano Realty Advisors, represented the buyer, The Lynd Company in the purchase.
Located at 3601 North Miami Avenue in Miami, the site sits at the gateway of three of Miami’s three most dynamic, high-growth districts: Miami Design District, Midtown Miami, and Wynwood.
At $226 per square foot, the sale represents the highest price per square foot in Cypress Creek over the past decade.
The Butters Realty & Management Industrial Brokerage Team represented the interest while Tom O’Loughlin, Executive Vice President with CBRE represented the landlord in the deal.
The property totals a combined 94,175 square feet.
The property was listed on November 16, under contract December 12 and closed on February 26 at 93.3% of list price.