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Florida & Gulf Coast  + South Florida  + Office  |  January 24, 2022
McCraney Property Company has sold Vista Business Park in WPB for $37 million and Lupin Inhalation Research Center in Coral Springs for $12 million
Lisa McDuffie
By: Lisa McDuffie

McCraney Property Company Sells Two-Property Portfolio in South FL for $49M

Cushman & Wakefield has arranged the sale of Vista Business Park in West Palm Beach and Lupin Pharmaceuticals Building (Lupin Inhalation Research Center) in Coral Springs. Together the properties make up the the South Florida Small-Bay Industrial Portfolio, which is 97% leased.

Cushman & Wakefield’s Mike Davis, Dominic Montazemi, Rick Brugge, Rick Colon and Greg Miller with support from Zach Eicholtz and Alex Sulte represented the seller, McCraney Property Company.

The properties were sold in two separate transactions. Vista Business Park was acquired by Midtown Capital Partners for $37 million while Lupin Inhalation Research Center was acquired by Lupin Research Inc., a subsidiary of Lupin Pharmaceuticals, Inc. for $12 million.

Vista Business Park in West Palm Beach is a 174,970-square-foot property with three buildings on Vista Parkway North and three additional buildings on Vista Parkway.

Lupin Inhalation Research Center is a 48,909-square-foot building located on NW 124th Avenue in Coral Springs.

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Cushman & Wakefield

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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