Pensacola-area industrial building leased to UPS sells for $9.6 million

Ninigret Group acquired a 60,000-square-foot UPS distribution center located at 5509 Industrial Blvd. in Milton, from Terhaar & Cronley for $9.6 million, or $160 per square foot, in an offi market deal.

Built in 2023, the distibution facility is fully leased and occupied by UPS inder a lease term that runds through December 2039.

Ninigret Group, a diversified real estate company based in Salt Lake City, holds a portfolio of 57 properties totaling approximately 2.2 million square feet.  The firms's industrial holdings spand of 35 properties and roughly 2 million square feel.

For the record: Edward Cronley of Pensacol-based Neal & Company represented both the buyer an seller in this transaction. 

Neal & Company Ranks as CoStar Top Power Broker in Nearly All Categories for 2020

CoStar, the world leader in commercial real estate information, released their list of Top Power Brokers for the Pensacola Area. The CoStar Power Broker Awards recognize and celebrate commercial real estate’s top brokers and firms in the United States in six categories. Neal & Company was recognized as a Power Broker in five of the six categories in 2020.

Case Study: 219 E. Garden Street (Gateway Garden Building)

This building located at 219 E. Garden street is a five-story, class A brick office building in the Seville Historic District in downtown Pensacola, Florida.  It consists of 45,000 square feet of office space with a 180 space surface parking lot and was built in 2018. The building is an impressive sight greeting visitors as the “gateway” multi-story building upon arriving on Garden Street from the I-110 downtown exit.