Princeton, NJ-based CBRE Realty Trust paid $29 million at an8.2% cap rate for the 601,500-square-foot industrial warehouse atWest Point Trade Center, 2300 Pickettville Road. Dallas-basedHillwood Investment Properties developed the build-to-suit projectfor Dr Pepper, which consolidated its Jacksonville-based regionaldistribution into a single building.

Dr Pepper's lease at West Point expires in 2019. CBRE RealtyTrust also owns a distribution center in the Jacksonville market,leased to Unilever, by way of a joint venture with Duke RealtyCorp.

The trust's acquisitions in Miramar, in southwest BrowardCounty, are its first presence in South Florida. CBRE Realty Trustpaid a combined $42.5 million, or $190 per square foot, at a 10.1%cap rate for the Miramar I & II office buildings at 2300 and2200 SW 145th Ave. Both buildings, which were completed in 2001-02,are fully occupied by DeVry University and Royal Caribbean CruisesLtd., respectively.