Mike Davis, Rick Colon, Rick Brugge and Dominic Montazemi of C&W represented the seller in the sale transaction in collaboration with the Space Coast-based leasing team of Mike Moss and Michael Moss II at Lightle Beckner Robison, Inc., who has been retained by new ownership to continue leasing the property.
The three-building light industrial commerce park totals 148,882 square feet.
The 280,000-square-foot facility was fully leased at the time of sale.
The properties were 100% leased at the time of sale to Florida-based Richland Capital Holdings.
PPF Real Estate acquired the 10-building suburban office park for $315 million.
The shell buildings sold for approximately $127 per square foot.
Cushman & Wakefield’s Equity, Debt and Structured Finance team secured $102 million in acquisition financing through PIMCO on behalf of the buyers.
Banyan Street Capital, a Miami-based private equity firm focused on acquiring and operating office properties, purchased the property in a joint venture with a fund managed by DRA Advisors.
Mike Davis, Rick Brugge, Stewart Calhoun, Rick Colon, Casey Masters, Dominic Montazemi and Zachary Eicholtz of Cushman & Wakefield represented the seller, Atlanta-based Ackerman & Co., in the transaction.
Mike Davis, Rick Colon, Rick Brugge, Dominic Montazemi, Zachary Eicholtz and Ryan Jenkins of Cushman & Wakefield represented the Kanas City, Mo.-based seller in the transaction.
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