Miami-based Adler Real Estate Partners acquired Baymeadows Business Center on Feb. 10 for $12.45 million, NAI Hallmark said in news release.
The 10.57-acre Class B office and industrial property is at 8226 Philips Highway south of Baymeadows Road. It comprises two buildings with 132,102 square feet of rentable space.
The seller was a joint venture of Fort Worth, Texas-based Woodside Capital Partners LLC and Minneapolis-based Castlelake L.P., through 8226 Phillips Highway LLC. They paid $5.6 million for the property in June 2016.
Adler Real Estate Partners bought the property through AF4 Baymeadows LLC and secured an $8.71 million mortgage from Regions Bank.
Keith Goldfaden and Daniel Burkhardt with NAI Hallmark and David Ellis and Alex Waddey with NAI Global announced the sale.
NAI Hallmark said property is 86.5% occupied with tenants including UPS, ADP, Breakthru Beverage Group LLC and Made In Space.
Made In Space, a developer of space manufacturing technology, opened in 2015 and announced Jan. 17 they plan to move their California headquarters to the property.
NAI Hallmark was the leasing and management agent and will remain with the new property owner.
The property was the former home of Everest University, owned by for-profit Corinthian Colleges, which filed for bankruptcy in 2015.