Exeter Property Group pays $15M for building in Corporate Park of Coral Springs

UPDATED September 19th, 11:15 a.m.: Exeter Property Group just paid $14.9 million for a manufacturing facility within the Corporate Park of Coral Springs, property records show.

The 5.5-acre facility at 4250 Coral Ridge Drive traded for about $62 per square foot. Hoerbiger Corp. of America is the seller. Records show the company, led by Udo Bauer, bought the building in 2015 for $12.85 million. Hoerbiger is a Swiss compression technology, drive technology and hydraulics company.

The building was constructed in 1981 and sits on about 39 acres. Features include nine loading docks, a drive-in ramp, a 45-seat auditorium and a nearly 17,800-square-foot mezzanine.

The Corporate Park of Coral Springs is home to more than 350 businesses occupying more than 4.1 million square feet of building space, according to Loopnet. The nearly one-square-mile business park fronts Sawgrass Expressway and includes commercial, office, warehouse and manufacturing space.

Exeter specializes in developing and managing industrial warehouses across the country and in Canada, according to its website. It recently closed on a $108 million multistate mortgage for properties, including two warehouses in Boynton Beach.

Correction: A previous version of this article said the lot sat on 20 acres.