The Real Deal Miami

Jupiter tech park sells for nearly $31M

January 08, 2014 11:15AM

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Jupiter Medical and Technology Park

Jupiter Medical and Technology Park

The Jupiter Medical and Technology Park has traded for nearly $31 million.

A company tied to Florida Turbine Technology, which occupies more than one-third of the park, sold the 1701 Military Trail property, South Florida Business Journal reported. POH Jupiter Ownership, a company managed by Plantation-based PointOne Holdings, is the buyer of the 185,000-square-foot facility. POH Jupiter obtained a $24.4 million mortgage from Philadelphia-based RAIT Partnership for the acquisition.

Jupiter Medical and Technology Park is 92 percent occupied. GE Healthcare subsidiary GEMS is the largest tenant.

CBRE represented the seller and arranged financing for the buyer. [South Florida Business Journal]Eric Kalis

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