Known as South Florida Logistics Center 95, the park is expected to lure tenants from nearby Palm Beach and Broward counties due to competitive rent rates, a cheaper cost of living for workers and a world-class logistics and transportation network that places users within three hours of 70% of the state’s population.
CREC Capital’s co-founders Alan Esquenazi and Warren Weiser facilitated the sale. Danny Finkle and Eric Williams from JLL represented the buyer, an entity controlled by Wharton Realty Group, in the transaction.
Prologis has approximately 2,855,360 square feet in Southern Broward County. This final deal brings the park to 100% occupancy and reporting record rents.
The lease and sale transactions total over 80,920 square feet.
The office park last sold in 1996 for $15,875,000.
Slated to open at the end of summer 2022, guests will enter the genuine prohibition-era themed experience after securing a secret code and dialing it into a restored antique London-style red phone booth at the entrance.
This is the company’s first entry into the US marketplace.
The law firm was previously located in Brickell.
The venture led by Parmenter will invest significant capital to enhance and reposition the property, establishing it as a new innovation hub in Doral.
The Cushman & Wakefield team was comprised of Matthew G. McAllister, Chris Metzger, Richard F. Etner Jr., and Christopher Thomson. Pete Sheridan of JLL represented the building’s owner, Prologis.
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