Cushman & Wakefield Negotiates Two South Florida Sales

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The South Florida Commercial Team Assisted an Affiliate of Mindful Capital Group in the Acquisition of 4202 Peters Road and an Affiliate of Naya USA Investment & Management LLC in the Disposition of 555 North Congress Avenue

BOCA RATON, FL, November 7, 2019 — Cushman & Wakefield’s South Florida Commercial Team has negotiated the sale of two commercial properties in South Florida for more than $10 million.

Greg Miller and Scott O’Donnell represented an affiliate of Mindful Capital Group in its acquisition of 4202 Peters Rd., a ±58,000-square-foot small bay industrial and storage facility in Plantation for $6.6 million ($114 per square foot). The seller was Coral Springs, FL-based TMT Properties, Inc.

4202 Peters Rd. is a six-building small bay industrial and storage facility developed in 1973 on a ±3.4-acre site. The property houses bays ranging in size from 330 to 1,000 square feet. 4202 Peters Rd. was 95 percent leased at the time of sale. Notable tenants include Sky High Accessories, STP Motor Parts and Sam Jolley’s Plumbing.

The asset is ideally situated in Broward County near Fort Lauderdale-Hollywood International Airport at the nexus of Florida’s Turnpike, Interstate 95 and Interstate 595.

“4202 Peters Rd. is strategically located with strong surrounding demographics and limited competitive supply,” said Miller. “As a result, the property has always maintained a high level of occupancy.”

Miller, Dominic Montazemi, O’Donnell, Miguel Alcivar and Michael Ciadella also represented an affiliate of Hollywood, FL-based Naya USA Investment & Management LLC in the sale of 555 North Congress Ave., an ±18,192-square-foot office building in Boynton Beach for $3.7 million ($203 per square foot). The buyer was Montreal-based Viglione Properties.

Developed in 1987 on a ±2.2-acre site, 555 North Congress Ave. is a three-story glass office building with 125 parking spaces and frontage along Congress Ave. The asset is located directly east of Boynton Beach Mall and proximate to the numerous dining and retail outlets nearby. The building was fully occupied at the time of sale and anchored by Chase Bank.

“With its curb appeal, excess parking and frontage along heavily-trafficked North Congress Ave., 555 North Congress has enjoyed strong historical occupancy and robust tenant demand,” said Miller.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

Media Assets

4202 Peters Road Photo
555 North Congress Avenue Photo
Greg Miller Headshot
Dominic Montazemi Headshot
Scott O’Donnell Headshot
Miguel Alcivar Headshot
Michael Ciadella Headshot