 |
| Hermen Rodriguez |
MIAMI, FL – HFF announced it has closed the sale
of Pinnacle Corporate Park I and II, two Class A suburban office buildings
totaling 262,434 square feet in Fort Lauderdale, Florida.
HFF marketed the property on behalf of Northwestern
Mutual. A joint venture between Banyan
Street Capital and DRA Advisors purchased the offering for $38.1 million free
and clear of existing debt.
Pinnacle Corporate Park is situated just off Interstate 95
at 500 and 550 West Cypress Creek Road adjacent to the Cypress Creek Tri-Rail
station.
 |
| Ike Ojala |
The properties are 85 percent
leased overall to a diverse tenant roster including University of Phoenix,
CastlePoint Insurance, Oracle and Fannie Mae.
The HFF team representing the seller was led by managing
director Hermen Rodriguez, director Ike Ojala and senior real
estate analyst Jorge Portela.
“Pinnacle Corporate Park has an exceptional office location
thanks to its proximity to Fort Lauderdale’s central business district,
Interstate 95 and the Tri-Rail, and the property is in exceptional physical
condition,” said Rodriguez.
“The offering received strong interest from a wide variety
of investors, driven by the property’s physical attributes and strong
rent-roll,” added Ojala.
HFF’s
investment sales team closed more than $2.8 billion in office building sales
nationally in the first half of 2013.
HFF closed more than $48 million in office transactions across all capital
markets platforms in the state of Florida during this time.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
No comments:
Post a Comment