Having earned the reputation in Florida and the southeastern U.S. for reimagining infill office properties in prime locations, Grover Corlew plans to invest in the building with upgrades to tenant space, common areas, landscaping and the façade.
Cushman & Wakefield secured $9 million in acquisition financing through Principal Life on behalf of the buyer.
Jason Hochman and Ron Granite of Cushman & Wakefield secured $46.3 million in acquisition financing through Argentic Investment Management on behalf of the buyers.
The real estate investment management group purchased the 109,497-square-foot building for $44.6 million.
The property is 100% leased to more than 40 tenants ranging from light industrial to athletic and recreational uses.
The four-story buildings total 498,073 square feet.
The eight office buildings total 81,034 square feet.
The building totals 107,304 square feet.
The buildings, which total 64,436 square feet, were 93.5% occupied at the time of the sale.
The final sale price was $22.6 million. CLICK ON THE HEADLINE FOR MORE