{"id":1004234884,"date":"2018-06-15T01:41:30","date_gmt":"2018-06-15T09:41:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004234884"},"modified":"2022-12-08T14:24:38","modified_gmt":"2022-12-08T22:24:38","slug":"south-florida-industrial-facility-sells-for-30m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/","title":{"rendered":"South Florida Industrial Facility Sells for $30M"},"content":{"rendered":"<p>By Timea Matyas<\/p>\n<div id=\"attachment_1004234888\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004234888\" data-attachment-id=\"1004234888\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/1600-north-park-drive\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg\" data-orig-size=\"3300,2475\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 5DS R&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1513947825&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;58&quot;,&quot;iso&quot;:&quot;400&quot;,&quot;shutter_speed&quot;:&quot;0.0008&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"1600 North Park Drive\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1600 North Park Drive&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg?w=1024\" class=\"wp-image-1004234888 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg\" alt=\"1600 North Park Drive\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg 3300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg?resize=1536,1152 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg?resize=2048,1536 2048w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004234888\" class=\"wp-caption-text\">1600 North Park Drive<\/p><\/div>\n<p>CBRE Capital Markets has arranged the sale of a&nbsp;226,392-square-foot industrial asset in Weston, Fla. GLL Real Estate Partners, a division of the Macquarie Group, purchased the warehouse for $30.4 million, according to public records. CBRE represented the sellers, Becknell Industrial and its institutional partner.&nbsp;<\/p>\n<p>Located at 1600 N. Park Drive, the&nbsp;cross-dock warehouse is fully leased, with part of the building serving as the headquarters for Vital Pharmaceuticals Inc., and the other portion as the South Florida distribution hub for Mondelez International Inc. The 534-foot deep building features 110&#8242;-175&#8242; truck courts, 25-foot clear span heights, trailer storage and high-throughput 2.1 loading doors per 10,000 square feet.<\/p>\n<h2>Strategic location<\/h2>\n<p>The property is situated within the Weston Park of Commerce, in the Southwest submarket of Broward County. According to a CBRE report, rents have grown considerably in the area, while industrial vacancy rates are currently the second lowest&nbsp;in Florida.<\/p>\n<p>CBRE&nbsp;Vice Chairmen Christian Lee and Chris Riley, along with Senior Vice Presidents Jos\u00e9 Lob\u00f3n and David Wigoda, represented the seller in the transaction. Recently, CBRE facilitated the <a href=\"https:\/\/www.commercialsearch.com\/news\/starwood-property-trust-sells-broward-county-asset\/\">$13.5 million sale of Millennium Plaza<\/a>, in the same area.<\/p>\n<p><em>\u201cLocated only four miles from the region\u2019s most significant highway interchange, the confluence of I-75\/I-595 and the Sawgrass Expressway allows for distribution to 80 percent of the region\u2019s 6.1 million people within a 60-minute drive time. Additionally, this location is only 1.5 miles from the westbound I-75 interchange, which affords the property excellent access to the Southwest Florida region and the best transportation dynamics in the entire South Florida MSA,\u201d<\/em> said Lob\u00f3n, in a prepared statement.<\/p>\n<p><em>Image courtesy of CBRE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The fully leased, cross-dock warehouse serves as the corporate headquarters for Vital Pharmaceuticals and Mondelez International\u2019s South Florida distribution hub. <\/p>\n","protected":false},"author":1274,"featured_media":1004234888,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,1492,21742],"tags":[33009,32789,35047,38888,35049],"class_list":["post-1004234884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-miami","category-latest","tag-becknell-industrial","tag-cbre","tag-christian-lee","tag-gll-real-estate-partners","tag-jose-lobon"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Florida Industrial Facility Sells for $30M - 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\/south-florida-industrial-facility-sells-for-30m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Florida Industrial Facility Sells for $30M\" \/>\n<meta property=\"og:description\" content=\"The fully leased, cross-dock warehouse serves as the corporate headquarters for Vital Pharmaceuticals and Mondelez International\u2019s South Florida distribution hub.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/\" \/>\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=\"2018-06-15T09:41:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T22:24:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"3300\" \/>\n\t<meta property=\"og:image:height\" content=\"2475\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Timea Matyas\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/\",\"name\":\"South Florida Industrial Facility Sells for $30M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg\",\"datePublished\":\"2018-06-15T09:41:30+00:00\",\"dateModified\":\"2022-12-08T22:24:38+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d364eed718d001d2f28b9e07694ebfc2\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg\",\"width\":3300,\"height\":2475,\"caption\":\"1600 North Park Drive\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"South Florida Industrial Facility Sells for $30M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d364eed718d001d2f28b9e07694ebfc2\",\"name\":\"Timea Matyas\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3f85f210df195b9ba162e96e188008943da8d66d1c3be3106d1dbb602e6c7c28?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3f85f210df195b9ba162e96e188008943da8d66d1c3be3106d1dbb602e6c7c28?s=96&d=mm&r=g\",\"caption\":\"Timea Matyas\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/timeamatyas\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"South Florida Industrial Facility Sells for $30M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/","og_locale":"en_US","og_type":"article","og_title":"South Florida Industrial Facility Sells for $30M","og_description":"The fully leased, cross-dock warehouse serves as the corporate headquarters for Vital Pharmaceuticals and Mondelez International\u2019s South Florida distribution hub.","og_url":"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-06-15T09:41:30+00:00","article_modified_time":"2022-12-08T22:24:38+00:00","og_image":[{"width":3300,"height":2475,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg","type":"image\/jpeg"}],"author":"Timea Matyas","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/","url":"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/","name":"South Florida Industrial Facility Sells for $30M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg","datePublished":"2018-06-15T09:41:30+00:00","dateModified":"2022-12-08T22:24:38+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d364eed718d001d2f28b9e07694ebfc2"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg","width":3300,"height":2475,"caption":"1600 North Park Drive"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/south-florida-industrial-facility-sells-for-30m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"South Florida Industrial Facility Sells for $30M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d364eed718d001d2f28b9e07694ebfc2","name":"Timea Matyas","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3f85f210df195b9ba162e96e188008943da8d66d1c3be3106d1dbb602e6c7c28?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3f85f210df195b9ba162e96e188008943da8d66d1c3be3106d1dbb602e6c7c28?s=96&d=mm&r=g","caption":"Timea Matyas"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/timeamatyas\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1600-North-Park-Drive-e1528974076535.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004234884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1274"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004234884"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004234884\/revisions"}],"predecessor-version":[{"id":1004235174,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004234884\/revisions\/1004235174"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004234888"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004234884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004234884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004234884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}