The Real Deal Miami

Cushman trio handled $230M of Florida commercial property sales in one week

November 13, 2016 11:00AM

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Mike Davis, executive director, Cushman & Wakefield Capital Markets

Mike Davis, executive director, Cushman & Wakefield Capital Markets

A three-man team at brokerage firm Cushman & Wakefield handled $230 million in commercial property sales in Fort Lauderdale, Jacksonville, Miami and Orlando last week.

Mike Davis, executive director of Cushman & Wakefield’s capital markets group, handled the sales together with two senior directors, Rick Brugge and Michael Lerner.

The seven properties sold include distribution facilities in Miami and Weston.

Mississippi-based EastGroup Properties acquired a 134,000-square-foot warehouse at 1951 North Commerce Parkway in Weston from Minnesota-based Founders Properties. Cushman & Wakefield did not disclose the price.

As previously announced, Miami-based Equitable Real Estate Partners paid $17.5 million, or $44 per square foot, for Airport East Distribution Center, a three-building complex in Miami spanning 397,585 square feet at 7000 Northwest 32 Avenue.

Cushman & Wakefield also helped West Palm Beach-based McCraney Property Company sell 108,432 square feet of distribution and warehouse space in Central Florida at a development called Orlando Central Park for $9.3 million to Laguna Niguel, California-based Avistone.

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