Seller to lease back under 15-yr lease w/ two 5-yr extensions & right for first refusal to repurchase property.
St. Joe built Beacon Square property for IBM Corp., which uses it as an operations hub.
Deutsche Banc provided $20Mln for purchase of office/warehouse complex and 20.7 acres of land.
Built in 1981 and redone in 2000, Boca Lyons is 93.7% leased; Ross Dress For Less and Ethan Allen anchor.
Windsor is a JV between CalPERS and General Investment & Development Co.
The six-building bulk industrial property's tenants include Rexall Showcase Int'l and Whirlpool Corp.
The Class-A 5-building office project contains a total of 176,016 rentable sf (185,993 gross sf) built in 1986.
St. Joe developed the 3-story property as a build-to-suit for the buyer.
In addition to 2 four-story office buildings, deal includes 5.73 acres and a 247,000-sf parking garage.
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© 2023 Commercial Real Estate Direct All rights reserved..