Walton Street Acquires Sunrise Commerce Center, a 77,608 SF Warehouse in Sunrise, FL

CHICAGO--(BUSINESS WIRE)--Walton Street is excited to expand its existing partnership with Lincoln Property Company (“Lincoln” together the “Venture”) through the acquisition of Sunrise Commerce Center, a 77,608 SF, Class A warehouse in Sunrise, Florida (“Sunrise Commerce Center” or the “Property”).

The Venture secured this high-quality building through a direct relationship with the owner/user (the “Seller”). The Property was built in 2015 with Class A industrial specs including 32 ft clear heights, 9 dock-high and drive-in doors, 99 parking spaces, and full-building circulation. The Property is also fully air-conditioned which is a significant amenity for prospective tenants due to South Florida’s climate. The Venture acquired the Property tenant-ready with LED lighting, ESFR sprinklers, and approximately 13,000 SF of office. The Property benefits from a tremendous distribution location with direct access to South Florida’s logistical infrastructure including the Sawgrass Expressway (2-mile drive) and the I-75/I-595 interchange (7-mile drive). Prospective tenants can access 93% of South Florida’s population of 6.2 million people within a 60-minute drive time.

“We are excited about acquiring this high-quality, move-in ready Property and the underlying growth prospects in West Broward. Lincoln continues to be a tremendous partner as we expand our footprint together in South Florida, and we plan to explore additional opportunities in the West Broward submarket.” Tom Jaeger, Senior Principal at Walton Street

About Walton Street Capital, L.L.C. (together with its affiliates, “Walton Street”): Walton Street is a private real estate investment firm that manages a diversified equity and debt platform on behalf of its global institutional clients. Since its inception in 1994 through its affiliates, Walton Street has raised nearly $17 billion of capital commitments from global institutional investors and has acquired, financed, managed and sold more than $55 billion of real estate. Through the cross platform synergies of its investment groups, Walton Street seeks to make real estate equity and debt investments with attractive risk adjusted returns. For more information, visit waltonst.com.