The multi-tenant complex is 98% leased to 28 tenants across multiple suites. The properties are situated on a 12.28-acre site, which features 521 surface parking spaces.
EML Realty Partners owns two other PODS warehouse facilities in Port St. Lucie and Melbourne with institutional equity partner and private REIT Arctrust, totaling five PODS warehouse buildings on the east coast of Florida with a combined square footage of over 200,000 square feet of industrial space.
Mike Donaldson and Nick Meoli of Cushman & Wakefield represented both the seller and buyer in the transaction.
Ray Turchi and David Vaughan in Marcus & Millichap’s Orlando office had the exclusive listing to market the property on behalf of the seller, a private New York investor.
José Lobón, Trey Barry, Frank Fallon and Royce Rose with CBRE Capital Markets, represented the seller with the assistance of CBRE’s David Murphy.
Stiles has added four new-to-market tenants in the last year at Marketplace at Altamonte, which is now 90% leased.
Kent Cooper, CCIM, a CFCAR past president, was awarded Deal of the Year and 17 other awards were presented.
Axiom Capital Corp. has structured and arranged a $6.1-million permanent loan (10-year, fixed rate, non-recourse) for the acquisition.
EDEN plans to break ground in June 2022 and expects to complete the project in September 2023.
The center is 100% leased with notable tenants such as Petco, Ross, Marshalls, Five Below and Bed Bath and Beyond. In June, a Sprouts store and ULTA will move in.
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