CBRE Arranges $59 Million Sale Of Two In-Fill Industrial Warehouse Buildings In Miami
The 304,408-square-foot portfolio was 64 percent leased at the time of sale.
The 304,408-square-foot portfolio was 64 percent leased at the time of sale.
CBRE’s Christian Lee, Chris Riley, José Lobón, Amy Julian, and Royce Rose represented Butters in the transaction.
The office park last sold in 1996 for $15,875,000.
Christian Lee, José Lobón and Marcos Minaya of CBRE Capital Markets, and Jay Adams with Newmark represented the seller, Encore Capital Management, in the transaction.
The deal equates to about $318 a square foot for the nearly 243,000-square-foot complex.
The 10-story building is considered one of the premier office properties in Boca Raton.
The 240,669-square-foot building was 95% leased at the time of the sale.
CBRE Senior Vice President Larry Genet, Executive Vice President Tom O’Loughlin , Executive Vice President Jose Lobón, Vice Chairman Christian Lee and Senior Associate Jake Zebede represented Brookfield Asset Management in the purchase
The property was sold to an affiliate of Banyan Street Capital.
The property consists of a 9-story office tower, a 2-story medical office building and a development pad.
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