{"id":1563,"date":"2019-01-17T10:00:30","date_gmt":"2019-01-17T15:00:30","guid":{"rendered":"https:\/\/www.meyer.media\/?p=1563"},"modified":"2019-01-17T09:47:52","modified_gmt":"2019-01-17T14:47:52","slug":"%e2%80%8ccushman-wakefield-negotiates-62-25m-sale-and-31-125m-financing-of-powerline-business-park","status":"publish","type":"post","link":"https:\/\/www.meyer.media\/2019\/01\/17\/%e2%80%8ccushman-wakefield-negotiates-62-25m-sale-and-31-125m-financing-of-powerline-business-park\/","title":{"rendered":"\u200cCushman & Wakefield Negotiates $62.25M Sale and $31.125M Financing of Powerline Business Park"},"content":{"rendered":"
\"Powerline<\/a>
Powerline Business Park<\/figcaption><\/figure>\n

Stockbridge Capital Group Acquired the 24-Building Small-Bay Industrial Park from Industrial Development Company<\/em><\/strong><\/p>\n

POMPANO BEACH, FL, January 17, 2019<\/strong> \u2014 Cushman & Wakefield<\/a> has negotiated the sale and financing of Powerline Business Park, a 443,720-square-foot small-bay industrial park in Broward County.<\/p>\n

The Cushman & Wakefield Capital Markets team of Mike Davis<\/a>, Scott O’Donnell<\/a>, Rick Brugge<\/a>, Michael Lerner<\/a>, Dominic Montazemi<\/a> and Greg Miller<\/a> represented Pompano Beach-based Industrial Development Company<\/a> in the disposition. San Francisco-based Stockbridge Capital Group<\/a> acquired the asset for $62.25 million ($140 per square foot).<\/p>\n

Jason Hochman<\/a> of Cushman and Wakefield\u2019s Equity, Debt and Structured Finance Group, assisted Stockbridge Capital Group in securing a $31.125 million low fixed rate acquisition loan from State Farm Insurance Company<\/a>.<\/p>\n

\u201cThis exceptional infill investment property garnered strong interest from institutional as well as private investors seeking strong cash flow with upside potential,\u201d said Davis.<\/p>\n

Powerline Business Park comprises 24 small-bay industrial buildings developed between 1983 and 1994. The campus is located on a \u00b126.4-acre site at 4100 Powerline Road<\/a> in Pompano Beach.<\/p>\n

\u201cThe South Florida industrial market remains a target for investors with demand driven by the exceptional performance of existing assets, the scarcity of for-sale product and limited development opportunities,\u201d said O\u2019Donnell.<\/p>\n

The property features dock-high truck loading and grade-level, overhead 12-foot x 14-foot doors; air-conditioned office space; clear heights ranging from 16 to 20 feet; electric roof ventilators in shop areas; ample illuminated parking; city-served water and sewer; heavy duty three-phase electrical service to each bay; skylights and professional landscaping and exterior maintenance. Select buildings have lake views or frontage on Powerline Road. The park was 96.8% occupied at the time of sale. Notable tenants include First World Imports, CMC Bakery and Bernoti Corp.<\/p>\n

Powerline Business Park\u2019s location just north of Sample Road in Broward County provides easy access to Interstate 95 and Florida\u2019s Turnpike as well as Fort Lauderdale-Hollywood International Airport, Palm Beach International Airport, Miami International Airport, Port Everglades, PortMiami and Port of Palm Beach.<\/p>\n

About Cushman & Wakefield<\/strong><\/p>\n

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit\u00a0www.cushmanwakefield.com<\/a> or follow @CushWake<\/a> on Twitter.<\/p>\n

Media Assets<\/strong><\/p>\n

Powerline Business Park Photo<\/a>
\nMike Davis Headshot<\/a>
\nScott O\u2019Donnell Headshot<\/a>
\nRick Brugge Headshot<\/a>
\nMichael Lerner Headshot<\/a>
\nDominic Montazemi Headshot<\/a>
\nGreg Miller Headshot<\/a>
\nJason Hochman Headshot<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Cushman & Wakefield has negotiated the sale and financing of Powerline Business Park, a 443,720-square-foot small-bay industrial park in Broward County.<\/p>\n","protected":false},"author":1,"featured_media":1559,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[2185,1441,2188,192,2187,49,4,700,173,87,1427,146,2186,29,144,123,2183,120,166,101,100,431,2182,102,35,88,368,2184,1838,172],"class_list":["post-1563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pr","tag-4100-powerline-road","tag-acquisition","tag-bernoti-corp","tag-broward-county","tag-cmc-bakery","tag-commercial-real-estate","tag-cushman-wakefield","tag-disposition","tag-distribution","tag-dominic-montazemi","tag-edsf","tag-financing","tag-first-world-imports","tag-florida","tag-greg-miller","tag-industrial","tag-industrial-development-company","tag-jason-hochman","tag-loan","tag-michael-lerner","tag-mike-davis","tag-pompano-beach","tag-powerline-business-park","tag-rick-brugge","tag-sale","tag-scott-odonnell","tag-south-florida","tag-state-farm-insurance-company","tag-stockbridge-capital-group","tag-warehouse"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.meyer.media\/wp-content\/uploads\/2019\/01\/powerline-business-park-photo.jpg?fit=3000%2C2000&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p79IL5-pd","_links":{"self":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts\/1563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/comments?post=1563"}],"version-history":[{"count":1,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts\/1563\/revisions"}],"predecessor-version":[{"id":1564,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts\/1563\/revisions\/1564"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/media\/1559"}],"wp:attachment":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/media?parent=1563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/categories?post=1563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/tags?post=1563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}