(Crystal Proenza is associate editor of Real EstateFlorida.)
DEERFIELD BEACH, FL-Graebel South Florida Movers has completed asale-leaseback of its local 120,000-square-foot warehouse at 2900SW 15th St. to Miami-based Easton Group. The transaction is valuedat $9.6 million, 70% more than what the company bought it for, withGraebel remaining as a tenant for the next three years.
The warehouse was constructed as a build-to-suit for theregional office of the Denver-based global moving company by theRichard Mancini Trust in 2003. Graebel originally signed a 10-yearlease at the site, with an option to purchase after five years. Asthat option came due, the company purchased the building for $5.6million.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
