The company will occupy 10,600 square feet at Related Beal's eight-story 286,000-square-foot office building. Motif FoodWorks is expected to take occupancy in June 2020.
The confectionary manufacturer will be located at the former Guardian Life property, owned by JG Petrucci, to manufacture chocolate stuffed marshmallows and plans to make significant improvements to the property.
The team, led by David Beshears, brings a 25-year track record and will focus on a wide variety of property types, primarily in Florida and the Southeast.
The property at 8595 Beach Blvd. is anchored by Rowe's IGA Supermarket, Planet Fitness and the Armed Forces Career Center. Built in 1991, the property is 94% occupied and will be rebranded by the new ownership as Gates of The Promenade Shopping Center.
The transaction, according to Cushman & Wakefield, for the full-building lease involved the negotiation of a lease termination with existing tenant, Sun Pharmaceutical, and the arrangement for the purchase of in-place research and development infrastructure.
The 10-year deal at the 17-story, 332,000-square-foot building in Chicago's West Loop was announced by Colliers International. Onni Group acquired the Union Tower building earlier this year for approximately $80 million, according to multiple published reports.
The deal for the 96,000-square-foot complex within the East Gate Business Park was reported by Colliers International's Mount Laurel office, which represented the seller.