CBRE National Partners Announce Sale Of Recently Delivered 500,000 SF Logistics Park
A real estate fund managed by Ares Management purchased the portfolio from a joint venture (JV) partnership between Greystar and Butters Construction & Development.
A real estate fund managed by Ares Management purchased the portfolio from a joint venture (JV) partnership between Greystar and Butters Construction & Development.
CBRE National Partners’ José Lobón, Trey Barry, Frank Fallon, and Royce Rose represented the seller, New York-based Lightstone in partnership with Mavik Capital, in the transaction.
The two-building portfolio was fully leased at the time of sale.
The 25-building industrial portfolio totaling 1,393,972 square feet is comprised of properties located in Davie, Deerfield Beach and
CBRE’s Jose Lobón, Trey Barry, and Frank Fallon represented the seller in the transaction. The CBRE National Partners sales team was assisted by CBRE’s Royce Rose, Alain Bonvecchio, and Tom O’Loughlin.
The park was fully leased at the time of sale to 46 tenants.
The three-building Class A portfolio is fully leased to six tenants.
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 24%-leased newly constructed warehouse was sold to TA Realty.
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