February 25, 2016
BlueGate Sells Stemtech Square
BlueGate Partners is pleased to announce the successful sale of Stemtech Square, two, two-story office buildings totaling 77,146 sf of leasable office and a finished warehouse space on five acres, located in Pembroke Pines, Broward County, FL. Representing the seller, G&C Herald Investors, LLC, a partnership between Grover & Corlew, LLC and Atlantic Creek Real Estate Partners, LLC, BlueGate sold the property to Chelsea Investments 350 LLC for $12.5 million.
Located at 2000 and 2010 NW 150th Avenue, the Property is adjacent to and visible from the eastern right-of-way of exit 11 on Interstate-75, which has an average daily traffic count of over 150,000 cars at the Sheridan Street interchange. The Property is anchored by Stemtech International, Inc., which was recently ranked by Inc. Magazine as one of America’s fastest growing companies. In addition, investors have the opportunity to realize significant upside potential as under market in-place leases expire and are re-leased at current market rents.
BlueGate is a boutique real estate investment banking firm with offices in New York and Palm Beach, and offers services in the areas of investment sales, portfolio and property financing, and debt and equity capital raising for real estate projects.