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HOLLYWOOD, FL-Investors Wilson Hollywood Showroom LLC has acquired a 13-building, 521,000-sf portfolio of showroom, office and warehouse properties for $69.15 million.

The 13 buildings are situated on a total of 27.5 acres along Interstate 95 in southeast Broward County and are leased by tenants such as Snaidero Kitchens, Villeroy Boch, Jessica Sidney, Kitchen Expo, Best Buy and Mac Fine Art. The buildings are in close proximity to the Design Centers of the Americas (DCOTA) in Dania Beach and attract furniture and interior-design related tenants. The seller was several partnerships managed by Marvin Mandel, a locally based developer who developed the properties over the past 20 years.

Wilson Hollywood Showroom LLC is a partnership between the State of Wisconsin Investment Board and locally based investment group Hollywood Showroom LLC, which is controlled by John de Olazarra and Joshua Schrager. Institutional real estate advisor Rreef represented the State of Wisconsin Investment Board in the transaction and will manage the portfolio. Locally based Properties Group will handle leasing of the portfolio. Paul Whalen, a partner with Whalen Realty Capital, secured the debt financing with MONY Life Insurance Co.

“This was an off-market transaction,” de Olazarra tells GlobeSt.com. “We think there is inherent value in these properties types. They’re located in a strategic tri-county area and will continue to appreciate.”

Wilson Hollywood Showroom plans to continue marketing the buildings to interior design and furniture related tenants. “The idea is to continue to target these types of users because of synergies with its proximity to DCOTA,” de Olazarra says.

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