Link Sells Off Sunrise Industrial Properties
The transaction included 791,618 square feet of space.
The transaction included 791,618 square feet of space.
The facility was sold by Elion Partners and acquired by Link Logistics.
The Class A infill industrial portfolio consists of seven buildings totaling 677,789 square feet.
The $90 million project is expected to be completed in 18 months.
VSRE has also been contracted to develop apartment buildings, retail, and offices.
The landmark business park totals approximately 3.6 million square feet and is home to more than 350 companies.
“As Port Everglades Distribution Center was nearing completion, Challenge Warehousing initially agreed to terms to lease half of the new building. Within one month of leasing 41,099 square feet, Challenge won some new customers and they quickly decided to lease the entire building,” explained Conte.
The Butters Realty & Management Industrial Brokerage Team of JC Conte, SIOR and Brian T. Ahearn, CCIM represented the interest of Challenge Warehousing, Inc. in the transaction. Tom O’Loughlin and Larry Genet with CBRE represented the Landlord, Link Logistics.
Year-over-year, the Miami industrial market experienced a 53 percent jump in rent.
The standalone ±83,200-square-foot building is located within Link’s Miramar I-75 Distribution Center and was most recently occupied by Comcast Corporation.
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