Business

Square D campus in Knightdale sells for $8 million

A company led by two South Florida real estate developers has acquired the EastPoint office and manufacturing campus in Knightdale for $8 million, according to property records.

Aventura Place LLC acquired the 60-acre property from TG/LVF EastPoint, which paid $12.45 million in 2006 for the 412,000-square-foot complex. The campus was once completely occupied by Square D, which makes switches, circuit breakers and other electrical stuff.

Square D’s parent company, Schneider Electric, sold the property to TG/LVF EastPoint about the time it decided to move hundreds of jobs to Mexico. Square D later leased back a significant amount of space on the campus as it consolidated more workers in Knightdale.

An Aventura Place official didn’t immediately return a call seeking comment.

According to corporation records on file in Florida, Aventura Place’s officers are Javier Rabinovich and Manuel Grosskopf. Grosskopf’s family real estate firm, Chateau Group, has developed projects in both Buenos Aires and Miami, according to the company’s website.

Rabinovich is CEO of Prive Group, and has been involved in a number of South Florida development projects, according to media reports.

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