“The building was 84% leased at the time of sale, and with approximately 40% of the rentable square footage set to roll over in the next four years, new ownership has a compelling opportunity to drive significant net-operating income growth over the next decade,” said Douglas Mandel, IPA executive managing director investments.
Built in 1984 and 1985 on 5.5 acres, the Deerfield Financial Centre comprises 60 office suites ranging in size from 120 square feet to over 4,750 squa ...
The building sold for $15.3 million.
The property includes 58,446 square feet of rentable space across two buildings on 5.23 acres.
The assets sold for a combined $15,675,000.
Douglas Mandel, along with Tyler S. Kuhlman and Zachary Levine of Marcus & Millichap, represented the seller in the transaction.
Formerly of Marcus and Millichap, the pair has been chosen to lead the newly formed ‘ROI Partners’ (Retail, Office, and Industrial) at SVNCP.
The asset sold for $17,500,000. CLICK ON THE HEADLINE FOR MORE
An affiliate of Adler Group, LLC purchased the property. CLICK ON THE HEADLINE FOR MORE
Douglas Mandel and C. Todd Everett represented the seller in the transaction. CLICK ON THE HEADLINE FOR MORE
