November 10, 2016
EastGroup Properties, headquartered in Mississippi, acquired the 134,400-square-foot Weston Commerce Park, a warehouse and distribution center in Broward County, FL. Seller Founders Properties of Minnesota was represented by Mike Davis, Rick Brugge, Michael Lerner and Christopher Metzger with Cushman & Wakefield.
Weston Commerce Park delivered in 1997, and sits on 8 acres at 1951 N. Commerce Pkwy. in Weston, FL. The transaction’s sales price was not disclosed, but the Broward County Property Appraiser values the asset at $8.4 million. “Western Broward County, in particular, offers investors tremendous upside as a supply constrained submarket with rapidly improving fundamentals,” said Cushman & Wakefield’s Davis.
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