Two-Building Office Portfolio Sells For $58.9M, Marks Submarket’s Highest PSF
At $226 per square foot, the sale represents the highest price per square foot in Cypress Creek over the past decade.
At $226 per square foot, the sale represents the highest price per square foot in Cypress Creek over the past decade.
The Butters Realty & Management Industrial Brokerage Team represented the interest while Tom O’Loughlin, Executive Vice President with CBRE represented the landlord in the deal.
The property totals a combined 94,175 square feet.
The property was listed on November 16, under contract December 12 and closed on February 26 at 93.3% of list price.
The asset was the second of the seller’s 100% occupied, two-building portfolio to sell within three months, both sales totaling $17.2 million.
Pompano Crown LLC purchased the buildings with plans to renovate and re-lease the currently vacated space.
The tenant will occupy the space at 6750 NW 79th Avenue in Miami.
The main event will be Wednesday, January 13th from 9 am to 12 noon via Zoom.
He has 14 years of experience in South Florida commercial real estate covering most types of transactions and representation. His experience in office and industrial agency and tenant representation, healthcare, multimarket portfolio accounts and advisory services lends itself as a perfect fit to the Sperry platform of services.
The landlord, Prologis, was represented by Tom O’Loughlin of CBRE.
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