POMPANO BEACH, FL—The 100% net-leased FedEx Ground facility herehas been acquired by TIAA-CREF of Charlotte,NC.

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The 285,005-square-foot property at 2700 NW 25th Street inPompano Beach was sold by Ft. Lauderdale BTS, LLC,of Charlotte, NC. The sale was announced by CBRE CapitalMarkets Institutional Properties, which represented theseller in the deal. No financial details on the transaction werereleased.

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The building sits on a 26.78-acre site that was built to suitfor FedEx Ground in 2006, and expanded in 2012. The 375-foot deepcross-dock building features a 30-foot clear span height, 90-footto 160-foot deep truck courts, a custom material handling andsorting conveyor system, dedicated trailer storage parking and asecure and fully fenced perimeter.

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The CBRE Capital Markets team representing the seller includedChristian Lee, vice chairman in Miami;Chris Riley, vice chairman in Atlanta; andBrian Budnick, senior vice president in Atlanta.Also involved in the transaction were CompieNewman, senior vice president in Charlotte, NC, from CBREDebt and Structured Finance; José Antonio Lobón,senior associate in Miami from CBRE Capital Markets InstitutionalProperties; and Tom O'Loughlin, vice presidentfrom CBRE's Industrial Leasing team in Fort Lauderdale.

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“Class A industrial product in South Florida always garnerssignificant investor interest,” says CBRE Vice Chairman Lee.“However, with the addition of the quality tenant and long-termnature of the lease, this property is worthy of premiumpricing.”

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“This location is already mission critical to FedEx, but withSouth Florida leading the nation in projected population growthwell above the national average, this location will become evenmore imperative,” adds CBRE's Lobón.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.