Mindful Management makes conscious Plantation purchase

The property sold for $104 psf

TRD MIAMI /
Sep.September 17, 2019 12:30 PM
6600 Northwest 14 Street (Credit: Google Maps, iStock)

6600 Northwest 14 Street (Credit: Google Maps, iStock)

UPDATED, Sept. 18, 4:15 p.m.: A Delray Beach-based industrial owner likely put a lot of thought into this deal.

A company tied to Jeffrey Pechter’s Mindful Management bought a 83,763-square-foot industrial property at 6600 Northwest 14th Street in Plantation for $8.8 million, records show. The deal equates to $104 per square foot.

A company tied to Ed and Susan Ulyate of Coconut Creek sold the property.

The property sits on 6.54 acres off West Sunrise Boulevard and close to Plantation High School. It was last sold for $2.6 million in 1993 and was constructed in 1990, records show.

One tenant is Craft on 14, a craft beer garden and restaurant that boasts that it has over 100 craft beers and a “collection of harder to find brews not often seen in the usual establishments,” according to its website.

Mindful Management is affiliated with Mindful Group, which was formed in 2003 as a spin-off from Tristar Management. The company, led by principals Pechter and Patrick Carney, largely focuses on multi-tenant industrial and owns and manages 15 industrial facilities and 600,000 square feet of property, according to Carney.

While demand for some real estate asset classes has slowed, interest in industrial properties in South Florida still remains strong. In Broward County, rental rates for industrial properties rose to $8.76 per square foot in the second quarter from $8.21 per square foot a year earlier, according to a recent report by Colliers International South Florida.

Correction: A previous version of this article had outdated information on the company from its website.


Related Articles

arrow_forward_ios
Tony Robbins and 2951 Electronics Way, West Palm Beach (Getty, Google Maps)

Tony Robbins buys West Palm Beach warehouse for production studio

Tony Robbins buys West Palm Beach warehouse for production studio
Jon Gray, 16100 Northwest 49 Avenue and 16200 Northwest 49 Avenue, Miami Gardens (Credit: Google Maps)

Blackstone snags eight industrial properties in Miami-Dade

Blackstone snags eight industrial properties in Miami-Dade
Jason Tenenbaum of Prologis, Stephanie Rodriguez of Duke Realty and Ross Giglio of Terrano Realty

Industrial development, rents and leasing stable in South Florida, but uncertainty remains: panel

Industrial development, rents and leasing stable in South Florida, but uncertainty remains: panel
Westfield Broward mall, CEO Christophe Cuvillier

Westfield Broward mall’s $95M CMBS loan heads to special servicing

Westfield Broward mall’s $95M CMBS loan heads to special servicing
(iStock)

SoFla industrial market’s Q2 is strongest quarter in three years

SoFla industrial market’s Q2 is strongest quarter in three years
Ed Easton and 501 103rd Avenue North (Google Maps)

Easton Group sells Royal Palm Beach warehouse for $16M

Easton Group sells Royal Palm Beach warehouse for $16M
Sean Dalfen and 3774 Interstate Park Road North

Dalfen Industrial snags Serta Simmons building in West Palm for $25M

Dalfen Industrial snags Serta Simmons building in West Palm for $25M
Ivy Realty CEO Anthony P. DiTommaso, Jr., and 650 Northeast 185th Street (Credit: Google Maps)

Ivy Realty snags industrial freezer in Miami for $13M

Ivy Realty snags industrial freezer in Miami for $13M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...