An affiliate of Stockbridge Capital Group has purchased warehouses in Coconut Creek, Broward County, for a total of $48.9 million. The properties are located at 4611-4661 Johnson Road, 4701 Johnson Road, 4811 Lyons Technology, and 4911 Lyons Technology. With a total acreage of 19.9, these industrial assets offer approximately 228,118 square feet of space. The sale price per square foot stands at $214. The transaction took place in the Coconut Creek market.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $48,900,000
• Address: 4611-4661 Johnson Road, 4701 Johnson Road, 4811 & 4911 Lyons Technology
• Market: Coconut Creek
• Acres: 19.9

The acquisition was made by Stockbridge Capital Group, with Terry Fancher and Sol Raso representing the buyer. The seller in this transaction was Principal Asset Management. Luis Castillo and Cody Brais from JLL served as the brokers for this deal.

It is worth mentioning that these properties, built in the early 2000s, were previously sold in 2008 for $32.09 million. Despite a recent slowdown in leasing activity in South Florida's industrial market, the value of these warehouses has increased over the years.