Le Forte Investment Acquires Property At 300 International Pkwy Fort Lauderdale For $8.7M

The asset sold is a warehouse and distribution center located at 300 International Parkway in Sunrise, Florida. The facility spans 58,961 square feet and was sold for $8,700,000. It is currently fully occupied by a single, long-term tenant under a lease that expires in 2028.

Summary of transaction details:

• Property Type: Warehouse and Distribution Center
• Transaction Amount: $8,700,000.00
• Address: 300 International Pkwy, Sunrise, FL
• Market: Sunrise
• Seller's Representatives: Dominic Montazemi (Cushman & Wakefield), Gregory (Greg) Miller (Cushman & Wakefield)
• Buyer: Le Forte Investment
• Loan Amount: $5,200,000.00
• Tenant Lease Expiration: September 2028
• Developed: 1997

Greg Miller, Scott O’Donnell, and Dominic Montazemi from Cushman & Wakefield's Capital Markets team represented SunCap Real Estate Investments in this transaction. The tenant, Hydraulic Supply Co., has occupied the distribution center since its development and previously sold the property to SunCap in a $5.9 million sale-leaseback deal in December 2018.