CJ Partners Acquires $14M Mixed-Use Facility in Hollywood, FL
- Dec 30, 2016
Hollywood, Fla.—CJ Partners Hollywood LLC recently purchased the $13.7 million Wartsila Building, a high-tech warehouse and manufacturing facility located at 2900 SW 42 St. in Hollywood, Fla. Alan Levy, broker & president of Levy Realty Advisors represented the buyer.
Hanseatic Land Trust, represented by Cushman & Wakefield’s Dominic Montazemi, Greg Miller and Scott O’Donnell sold the 81,922-square-foot warehouse facility, which represents the second single-tenant office/warehouse Broward County transaction that Alan Levy has handled for the principals involved with the CJ Partnership since entering the market in 2014.
Situated in Port 95 Commerce Park, the property is a mixed-use business park comprising more than 2.4 million square feet of space situated on 186 acres of land, located west of the Fort Lauderdale/Hollywood International Airport.
“The principals were attracted to the long-term stability of the highly sought after Port 95 Industrial submarket due to its close proximity to the Ft. Lauderdale/Hollywood airport, Port Everglades, and the I-595/I-95 corridor for Class A industrial properties with credit tenants, which was reflected in the acquisition price,” Levy said in a statement.
The property was used for warehousing, distribution, training, manufacturing and maintenance of the company’s products and services and also as a regional headquarters for North America for the U.S arm of Wartsila, a supplier of flexible power plants and ship power solutions. The office area of the building was recently expanded by approximately 4,000 square feet, for a total of 32,000 square feet and 32 additional parking spaces were added to accommodate the tenants rapid growth.
Image via Google Street View