Florida & Gulf Coast CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Florida & Gulf Coast  + South Florida  + Industrial  | 
Stockbridge unload 14-building business portfolio for $72M

Stockbridge Picks $72M S. Florida Industrial Portfolio

A Deerfield Beach, 14-warehouse industrial project has been unloaded for $72.3 million. The Powerline Business Park was sold by the duo of Stockbridge Capital and the Los Angeles County Employees Retirement Association.

The combined 416,936 square feet of warehouses was bought by Investcorp International Realty. The site is just north of Sample Road. The S. Florida Business Journal reports Metlife Real Estate Lending provided the buyer with a $76.64 million mortgage, which also covered properties in other states. 

The price equated to $173 per square foot. It last traded for $62.25 million in 2019. The industrial buildings were developed on the 26.4-acre site from 1983 to 1984.

Connect

Inside The Story

Stockbridge

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Sale/Acquisition
New call-to-action
New call-to-action