{"id":1004072138,"date":"2013-05-03T06:34:47","date_gmt":"2013-05-03T14:34:47","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=123409"},"modified":"2022-03-03T08:19:36","modified_gmt":"2022-03-03T16:19:36","slug":"three-building-industrial-portfolio-in-sunrise-trades-for-nearly-40m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/three-building-industrial-portfolio-in-sunrise-trades-for-nearly-40m\/","title":{"rendered":"Three-Building Industrial Portfolio in Sunrise Trades for Nearly $40M"},"content":{"rendered":"<p><em>By Georgiana Mihaila, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/05\/industrial-portfolio-sunrise.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-123410 alignright\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/05\/industrial-portfolio-sunrise.jpg\" alt=\"\" width=\"228\" height=\"463\" \/><\/a>CBRE recently assisted Irving, Texas-based Cobalt Capital Partners in finding a buyer for a three-building, Class A industrial portfolio located within the prestigious Sawgrass International Corporate Park in Sunrise, Fla. Industrial Income Trust of Denver paid $39.35 million for the Sunrise Distribution Center, located at 900 International Pkwy., 14599 NW 8th St. and 13801 NW 4th St.<\/p>\n<p style=\"text-align: justify\">Totaling 401,650 square feet and featuring 24- to 26-foot clear heights, the buildings in the portfolio were first acquired by Cobalt Capital in August 2010, at the time boasting a 91 percent occupancy rate with one vacancy. Cobalt leased the vacant space and renewed two other tenants on a long-term basis during its ownership.<\/p>\n<p style=\"text-align: justify\">\u201cThis transaction is a good example of our value-add program in the light industrial sector,\u201d said Lewis D. Friedland, Cobalt\u2019s Managing Partner. \u201cThrough leasing activity and capital improvements, our asset management and leasing teams worked together to add a significant amount of value to this asset for our investors.\u201d<\/p>\n<p style=\"text-align: justify\">As part of the Sawgrass International Corporate Park, the buildings benefit from access to nearby interchange of I-75, I-595 and Sawgrass Expressway. Buyer Industrial Income Trust owns two other properties within the Corporate Park.<\/p>\n<p style=\"text-align: justify\">Christian Lee and Chris Riley, both vice chairmen within CBRE Investment Properties, represented seller Cobalt Capital Partners, assisted by Charles Foschini, vice chairman of Debt &amp; Equity Finance; Tom O\u2019Loughlin, vice president of Industrial Properties Brokerage; and Jos\u00e9 Lobon, associate of Capital Markets Institutional Group.<\/p>\n<p style=\"text-align: justify\">In other industrial news, Terreno Realty Corporation signed a Miami-based paperboard packaging and printing company to occupy one of its properties in Doral, Fla. The company, whose name has not been disclosed, will occupy the entire 75,000-square-foot facility at 1401 NW 78th Ave. starting June 1, 2013, with the lease ending October 2020.<\/p>\n<p style=\"text-align: justify\">Images via <a href=\"https:\/\/www.cobaltcapitalpartners.com\/\" rel=\"nofollow\">Cobalt Capital Partners<\/a><\/p>\n<p style=\"text-align: justify\">For more Miami market data, <a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-absorption-takes-off-in-miami-amidst-strong-job-growth-and-limited-construction\/1004078618.html\" rel=\"nofollow\"><strong>click here.<\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBRE has recently assisted Irving, TX.-based Cobalt Capital Partners in finding a buyer for a three-building, Class A industrial portfolio located within the prestigious Sawgrass International Corporate Park in Sunrise, Florida. Industrial Income Trust of Denver, Colorado, paid $39,350,000 for the Sunrise Distribution Center, located at 900 International Parkway, 14599 NW 8th Street, and 13801 NW 4th Street.<\/p>\n","protected":false},"author":33,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1492,21742],"tags":[],"class_list":["post-1004072138","post","type-post","status-publish","format-standard","hentry","category-miami","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Three-Building Industrial Portfolio in Sunrise Trades for Nearly $40M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/three-building-industrial-portfolio-in-sunrise-trades-for-nearly-40m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Three-Building Industrial Portfolio in Sunrise Trades for Nearly $40M\" \/>\n<meta property=\"og:description\" content=\"CBRE has recently assisted Irving, TX.-based Cobalt Capital Partners in finding a buyer for a three-building, Class A industrial portfolio located within the prestigious Sawgrass International Corporate Park in Sunrise, Florida. Industrial Income Trust of Denver, Colorado, paid $39,350,000 for the Sunrise Distribution Center, located at 900 International Parkway, 14599 NW 8th Street, and 13801 NW 4th Street.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/three-building-industrial-portfolio-in-sunrise-trades-for-nearly-40m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-05-03T14:34:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-03T16:19:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/05\/industrial-portfolio-sunrise.jpg\" \/>\n<meta name=\"author\" content=\"Georgiana Mihaila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/three-building-industrial-portfolio-in-sunrise-trades-for-nearly-40m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/three-building-industrial-portfolio-in-sunrise-trades-for-nearly-40m\\\/\"},\"author\":{\"name\":\"Georgiana Mihaila\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/7f47e1fdc15ee76043a807c37aa761f9\"},\"headline\":\"Three-Building Industrial Portfolio in Sunrise Trades for Nearly $40M\",\"datePublished\":\"2013-05-03T14:34:47+00:00\",\"dateModified\":\"2022-03-03T16:19:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/three-building-industrial-portfolio-in-sunrise-trades-for-nearly-40m\\\/\"},\"wordCount\":309,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/three-building-industrial-portfolio-in-sunrise-trades-for-nearly-40m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/05\\\/industrial-portfolio-sunrise.jpg\",\"articleSection\":[\"Miami\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/three-building-industrial-portfolio-in-sunrise-trades-for-nearly-40m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/three-building-industrial-portfolio-in-sunrise-trades-for-nearly-40m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/three-building-industrial-portfolio-in-sunrise-trades-for-nearly-40m\\\/\",\"name\":\"Three-Building Industrial Portfolio in Sunrise Trades for Nearly $40M - 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