While working through the sale and due diligence period, Milopoulos secured a full-building tenant, East Coast Cabinetry, with the assistance of the tenant’s broker Richard D. Abraham, CCIM, SIOR, Broker-President with Abraham & Associates.
The buildings feature 24’ clear ceilings in the warehouse, 10 exterior dock-high loading doors, a backup generator and 100% air-conditioning in the warehouse.
The property is adjacent to a building that the client purchased in August 2024.
The deals total $12.5 million.
Lee & Associates South Florida Principal Greg Milopoulos and Vice President Christian Baena successfully brokered the $4.07 million sale.
At $415 per square foot, the transaction set a new price per square foot record for the submarket.
Principal Greg Milopoulos and Vice President Christian Baena completed the transaction and have been retained by the new owner to lease the warehouse building.
The property, includes a 3,941-square-foot retail/industrial building and vacant lot encompassing a total of .73 acres, sold for above the initial asking price.
Brokers Keith Graves and Greg Milopoulos will handle leasing for the 170,373-square-foot distribution warehouse to be built on spec. CLICK ON THE HEADLINE FOR MORE
The lease transactions were inked at five properties across Broward County. CLICK ON THE HEADLINE FOR MORE