Intalex, Itero & Greenwall Acquire Coral Gables Office Portfolio For $97.8 Million
The partnership plans to invest more than $30 million to upgrade and renovate the portfolio with completion expected in 2027.
The partnership plans to invest more than $30 million to upgrade and renovate the portfolio with completion expected in 2027.
Eric Cantor of Cushman & Wakefield represented the landlord in the transaction. Dean Katz, Adam Bernstein and Greg Katz of Stream Realty Partners represented Travelpro.
The new Weston location is near the company’s existing 64,000-square-foot headquarters in Miramar.
Cushman & Wakefield’s Scott O’Donnell, Mike Ciadella, Greg Miller and Miguel Alcivar structured this transaction “off market.”
Two retail advisors have joined the firm in Miami as Executive Managing Director and Executive Director, respectively, strengthening its retail leasing and advisory capabilities across South Florida and the broader Americas region.
Cushman & Wakefield’s Jeannette Mendoza represented ownership, while Shay Pope of Stream Realty and Michael Phipps of CBRE represented the tenant.
The 36,041-square-foot facility is currently 63.4% leased, with 88% of the occupied space dedicated to healthcare users.
The 7.75-acre development site sold for nearly $6.6 million.
The development plans include building an additional 392,000 square feet for a total of three planned state-of-the-art industrial buildings.
The lease transactions are valued at more than $56 million.
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