{"id":1004292620,"date":"2019-01-18T04:29:13","date_gmt":"2019-01-18T12:29:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004292620"},"modified":"2019-01-18T10:27:25","modified_gmt":"2019-01-18T18:27:25","slug":"stockbridge-capital-group-buys-fl-industrial-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/stockbridge-capital-group-buys-fl-industrial-park\/","title":{"rendered":"Stockbridge Capital Group Buys FL Industrial Park"},"content":{"rendered":"<div id=\"attachment_1004292665\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Powerline-Business-Park.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004292665\" data-attachment-id=\"1004292665\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/stockbridge-capital-group-buys-fl-industrial-park\/powerline-business-park\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Powerline-Business-Park.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Powerline Business Park\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Powerline Business Park&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Powerline-Business-Park.jpg?w=800\" class=\"wp-image-1004292665 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Powerline-Business-Park.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Powerline-Business-Park.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Powerline-Business-Park.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Powerline-Business-Park.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004292665\" class=\"wp-caption-text\">Powerline Business Park<\/p><\/div>\n<p>Stockbridge Capital Group has acquired Powerline Business Park, an industrial park in Pompano Beach, Fla., for $62.3 million. Cushman &amp; Wakefield negotiated the deal on behalf of the seller, Industrial Development Co., as well as arranged $31.1 million in acquisition financing through State Farm Insurance Co., for the buyer.&nbsp;&nbsp;<\/p>\n<p>Located at 4100 Powerline Road, the property comprises 443,720 square feet spread across 24 small-bay buildings. The assets were constructed on a 26.4-acre site between 1983 and 1994. Powerline Business Park offers features including dock-high truck loading and grade-level, air-conditioned office space, electric roof ventilators in shop areas, city-served water and sewer, skylights, overhead 12- by 14-foot doors, 16- to 20-foot clear heights, illuminated parking, heavy duty three-phase electrical service to each bay and professional landscaping and exterior maintenance. Major tenants at the 96.8 percent-occupied park include First World Imports, Bernoti Corp. and CMC Bakery.&nbsp;<\/p>\n<p>The buildings provide convenient access to Interstate 95, Florida&#8217;s Turnpike, Fort Lauderdale-Hollywood International Airport, Palm Beach International Airport, Miami International Airport, Port Everglades, PortMiami and Port of Palm Beach.<\/p>\n<p>The Cushman &amp; Wakefield Capital Markets team of Vice Chairman&nbsp;Mike Davis, Executive Directors Scott O\u2019Donnell,&nbsp;Rick Brugge and&nbsp;Michael Lerner, Managing Director&nbsp;Dominic Montazemi&nbsp;and Senior Associate Greg Miller&nbsp;represented the seller. Senior Director Jason Hochman of Cushman and Wakefield\u2019s Equity, Debt and Structured Finance Group secured the low fixed-rate loan. Earlier this month, members of the same team <a href=\"https:\/\/www.commercialsearch.com\/news\/genet-property-group-buys-fl-industrial-portfolio\/\">negotiated the $12 million sale of a&nbsp;five-building industrial portfolio<\/a> in West Palm Beach and Riviera Beach, Fla., on behalf of The Silverman Group.&nbsp;<\/p>\n<p><em>\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<\/em>&nbsp;O\u2019Donnell&nbsp;said in a prepared statement.<\/p>\n<p><em>Image courtesy of Cushman &amp; Wakefield<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Working on behalf of the seller, Cushman &#038; Wakefield negotiated the sale of Powerline Business Park, a 444,000-square-foot property in Pompano Beach.<\/p>\n","protected":false},"author":746,"featured_media":1004292665,"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":[32799,35857,36244,36245,35858,36577,35708],"class_list":["post-1004292620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-miami","category-latest","tag-cushman-wakefield","tag-greg-miller","tag-mike-davis","tag-rick-brugge","tag-scott-odonnell","tag-state-farm-life-insurance","tag-stockbridge-capital-group"],"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>Stockbridge Capital Group Buys FL Industrial Park - 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\/stockbridge-capital-group-buys-fl-industrial-park\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stockbridge Capital Group Buys FL Industrial Park\" \/>\n<meta property=\"og:description\" content=\"Working on behalf of the seller, Cushman &amp; Wakefield negotiated the sale of Powerline Business Park, a 444,000-square-foot property in Pompano Beach.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/stockbridge-capital-group-buys-fl-industrial-park\/\" \/>\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=\"2019-01-18T12:29:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-01-18T18:27:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Powerline-Business-Park.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\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\/stockbridge-capital-group-buys-fl-industrial-park\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/stockbridge-capital-group-buys-fl-industrial-park\/\",\"name\":\"Stockbridge Capital Group Buys FL Industrial Park - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stockbridge-capital-group-buys-fl-industrial-park\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stockbridge-capital-group-buys-fl-industrial-park\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Powerline-Business-Park.jpg\",\"datePublished\":\"2019-01-18T12:29:13+00:00\",\"dateModified\":\"2019-01-18T18:27:25+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stockbridge-capital-group-buys-fl-industrial-park\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/stockbridge-capital-group-buys-fl-industrial-park\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stockbridge-capital-group-buys-fl-industrial-park\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Powerline-Business-Park.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Powerline-Business-Park.jpg\",\"width\":800,\"height\":620,\"caption\":\"Powerline Business Park\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stockbridge-capital-group-buys-fl-industrial-park\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Stockbridge Capital Group Buys FL Industrial Park\"}]},{\"@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\/f2094ece0e063845f848c7f1c7b84780\",\"name\":\"IvyLee Rosario\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"caption\":\"IvyLee Rosario\"},\"description\":\"IvyLee Rosario is a Senior Associate Editor for Commercial Property Executive and Multi-Housing News. 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