The Cushman & Wakefield team of Gian Rodriguez, Wayne Ramoski and Skylar Stein represented seller CDX DEVELOPERS in the land transaction and look to quickly tenant the building, filling a growing need for modern and efficient cold-storage space in South Florida.
The buildings, which total 64,436 square feet, were 93.5% occupied at the time of the sale.
The warehouse has 71,000 square feet of space available for lease for $7.25 per square foot, according to an online listing.
The property, which is situated at 942 Northeast First Avenue, will be home to the Legacy Hotel & Residences, a 50-story mixed-use tower with 274 branded residences atop a 256-room hotel.
MedSquare Health, which comprises 116,000 square feet, opened in November 2020.
The tenant is a startup company that expects to create 90+ new jobs in the region over the next five years. CLICK ON THE HEADLINE FOR MORE
Marcus & Millichap’s Kirk D. Olson and Drew A. Kristol represented the seller, a Miami-based private investor. The buyer, also a Miami-based private investor, was procured by Gordon Messinger, with Cushman & Wakefield. CLICK ON THE HEADLINE FOR MORE
The facility, which will house one of the country’s leading distributors of Italian food products, will also have a retail cafe available to employees of the corporate park and the public. CLICK ON THE HEADLINE FOR MORE
The Cushman & Wakefield South Florida Industrial Team of Chris Metzger, Rick Etner, Christopher Thomson and Matthew G. McAllister represented the landlord, Bristol Powerline, LLC, in the lease negotiations. CLICK ON THE HEADLINE FOR MORE
The final sale price was $22.6 million. CLICK ON THE HEADLINE FOR MORE
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