PALM BEACH, FL-Sterling Organization has completed the sale of a half-acre outparcel occupied by US Bank at Hawthorne Works Shopping Center, owned by Sterling, for an amount of $3.6 million. The US Bank banking facility, which measures 3,055 square feet in Cicero, formerly functioned through a ground lease deal with Sterling Organization.
The cap rate on this sale was 6.11%. Brandon Duff with Stan Johnson Company negotiated the deal on behalf of a Sterling entity.For the full story, go to Florida Real Estate Journal.
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