Leder Group Takes Flex Building Trio in Arvida Park

BOCA RATON, FL-Locally based Leder Group has paid $20.5 million, or about $134.43 per sf, for APOC III, IV and V, a trio of office/warehouse buildings with an aggregate of 152,491 sf. They contain a mix of office, warehouse and research space with a 71% office build out.

The three-building complex is located on approximately 17 acres on Broken Sound Parkway N., just north of Yamato Road within the 850-acre Arvida Park of Commerce. The seller, identified as APOC Office LLC, is a subsidiary formed for these properties by LaSalle Investment Management in Atlanta.

The buildings are 100% leased, according to Richard Tarquinio, first VP of the CB Richard Ellis investment properties group in Miami. He and Jeffrey Kelly, SVP of the local CBRE investment properties group office, Christian Lee, SVP of the Miami CBRE institutional group, and Charles J. Foschini, senior director of CBRE Melody’s South Florida office, were the sole brokers in the transaction.

Tarquinio says the buildings were constructed between 1982 and 1984. “While there is a range of rental rates within the buildings,” he tells GlobeSt.com, “the average is about $13 per sf, triple-net.”