Cabot Properties bought a pair of distribution warehouses in the Weston Park of Commerce for a combined $63.05 million as Broward County’s industrial market remains red hot.

Lexington Lion Weston I, an affiliate of Clarion Partners, sold the 230,976-square-foot warehouse at 3245 Meridian Parkway to CICF II – FL2B02, an affiliate of Boston-based Cabot Properties, for $33.05 million.

The price equated to $143 per square foot.

The 207,335-square-foot warehouse at 3225 Meridian Parkway was transferred between the same parties for $30 million, or $145 per square foot.

Clarion Partners acquired both warehouses for a combined $30.6 million in 2004, so they more than doubled in value. They were built on the 31.7-acre site in 1995.


Source:  SFBJ