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Stockbridge Capital buys Florida business park for $62M

San Francisco-based Stockbridge Capital Group LLC acquired the Powerline Business Park at 4100 Powerline Rd. in Pompano Beach, Fla., from Industrial Development Co. for about $62.3 million, the South Florida Business Journal reported, citing Cushman & Wakefield, which represented the seller.

Sitting on a 26.4-acre site, the 96.8%-occupied property encompasses 443,720 square feet of industrial space and lists First World Imports, CMC Bakery and Bernoti Corp. among its tenants, according to the Jan. 16 report.

Cushman & Wakefield also helped Stockbridge Capital obtain a $31.2 million mortgage loan from State Farm Insurance Co., the report added.