Newmark Capital Markets has announced the sale of a Port St. Lucie single-tenant commercial property for $10.75 million in the first quarter of 2018. The two-story 51,627-square-foot building, located at 300 NW Peacock Boulevard (also known as Business Center Drive) is fully leased to McKesson aka Change Healthcare.
The sale was the largest office deal in the Port St. Lucie market in almost 2 years, marking the highest price per square foot for office product in the region since 2015, according to Newmark Research.
Managing Director Michael Lohmann, along with Executive Managing Directors Michael Lapointe, Adam Greenberg and Analyst Scott Gordon, represented the owner/seller, PSL Advanced, LLC.
“The combination of the quality of the asset and strength of the tenant helped attract a 1031 buyer and yielded excellent results for our client,” said Lohmann.
According to Greenberg, “This sale indicates the continued strong market demand for high-quality assets with steady cash flows in place.”
About Newmark Capital Markets
Newmark Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.
Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.