Tom Robertson

Tom Robertson

Michael Rauch

Michael Rauch

Michael Rauch and Tom Robertson, Senior Managing Partners with CRE Rauch, Lupo, Robertson & Co. recently completed the sale of an industrial property located at 2150 NW 33rd Street in Pompano Beach.

The 1988-built, 15,656-square-foot facility, which is situated on 1.02 acres, is located within the Whispering Lakes Industrial Park near Sample Road and Powerline Road in Pompano.

2150_NW_33_Street - 2Allied Bingo Supplies of Florida, Inc. purchased the property from ACE Investment Holdings, LLC for $1,430,000, or $91.34 per square foot.

Rauch and Robertson represented ACE Investment Holdings in the transaction. After multiple offers, the acquisition took just over 45-days to complete.

“Our firm is currently working with several prospective buyers that are actively looking for industrial user properties between 15,000 and 25,000 square feet with dock or ground level loading,” commented Robertson. “This is an optimum time for an owner to consider selling.”

“The industrial market In Broward County has been tightening since 2013 as values and rents have increased steadily over this period,” added Rauch. “This tightening has made it more difficult for owner/users to find a suitable property and has been the primary reason for the increasing values.”

 

Tom Robertson

Tom Robertson

Michael Rauch

Michael Rauch

Michael Rauch and Tom Robertson, Senior Managing Partners with CRE Rauch, Lupo, Robertson & Co. have facilitated the sale of two freestanding office/retail properties in Pompano Beach.

2300 E. Atlantic Blvd.

2300 E. Atlantic Blvd.

East Village 2300 LLC, an entity owned by RMA Real Estate Services purchased 2300 E. Atlantic Boulevard, a 9,705-square-foot office building situated on nearly half an acre, for $975,000.

2125 E. Atlantic Blvd.

2125 E. Atlantic Blvd.

2125 E. Atlantic Boulevard, previously owned and occupied by attorney Charlotte Burrie, was purchased by Adache Real Estate for $420,000, or nearly $125 per square foot. The 1961-built office building, which is situated on ±0.16 acres, totals 3,368 square feet.

Both properties front Atlantic Boulevard, east of Federal Highway.

“The 2125 property has been the Law Offices of Charlotte and Donald Burrie since 1973. Vice Mayor/Commissioner Burrie recently retired from her law practice,” Michael Rauch commented. “RMA acquired 2300 from a Canadian Holding Company and intends to reposition the property within the Atlantic Boulevard East CRA District,” he added.

Rauch and Robertson represented the sellers in both transactions.

Tom Robertson, Senior Managing Partner with CRE Rauch Lupo Robertson, CRE Florida Partners Company, recently completed the sale of an industrial property located at 3411 SW 11th Street in Deerfield Beach.

3411 SW 11th Street Deerfield BeachSand & Steel Properties LLC purchased the asset for $1,840,000 or $86.94 per square foot.

The 21,165-square-foot facility, which is situated on 1.3 acres, was built in 1987 and fronts on both 10th and 11th Street.

“The property’s close proximity to Sawgrass Expressway and I-95 via SW 10th Street certainly added tremendous value to the offering,” said Robertson. CRE Florida Partners is currently working with several buyers looking for 20,000 – 40,000 SF Industrial buildings in Broward and Palm Beach County.

Tom Robertson

Tom Robertson

Robertson, who represented the leasing interests for the property on behalf of the seller, 3411 Building LLC, since 2002, represented the seller in the transaction.

“This transaction is one of the best examples I’ve seen of the way our firm handles long term relationships with our clients. Tom managed this property through lease up and sale with skill and patience,” added CRE Rauch Lupo Robertson Senior Managing Partner Michael Rauch.

LakeWhitneyPhaseIII - Side ViewNashville, Tennessee-based Hospital Corporation of America (HCA) (NYSE: HCA), a for-profit operator of health care facilities and largest such operator in the world, announced that it has leased a new, state-of-the-art, medical buildings at Lake Whitney Medical and Professional Park, located at 291 NW Peacock Blvd. in Port St. Lucie West, within Lake Whitney Medical and Professional Campus.

The Campus is situated on over 15 lake-front acres in the heart of St. Lucie West’s retail, restaurant and entertainment district. The new location will help HCA service its clients in St. Lucie County. The 22,700-square-foot space will be split between primary care doctors and specialty services such as OB-GYN and cosmetic surgery.

Tom Robertson

Tom Robertson

Tom Robertson, principal of CRE Florida Partners and Rauch, Lupo, Robertson & Co., represented the landlord in the deal. J. Forbes, CCIM with Barron and Associates represented HCA.

Brookdale Corp. (NYSE: BKD), also leased 11,351 square feet at Lake Whitney Medical and Professional Park, representing an expansion of its facilities.  Brookdale Corp., which merged with “Nurse On Call,” provides home healthcare solutions through skilled nursing and rehabilitation.  Brookdale Corp., with nearly 50,000 associates and more than 600 retirement communities, is the largest owner and operator of senior living communities throughout the United States.

Robertson represented the landlord while Brian Lightle with LBR Inc. represented the tenant in the deal.

Robertson commented, “We see a trend of national companies returning to St. Lucie County, especially with the appeal of Lake Whitney Office/Medical Park in the St. Lucie West market.”

The 20-acre, 165,000-square-foot medical office campus offers ideal live/work amenities including superb highway access, retail amenities within walking distance and luxurious residential communities coupled with top quality office space.

LakeWhitneyMedical&ProfessionalOffices

The campus’ two newest buildings front Peacock Blvd and are just minutes from Exit #121 on I-95, near the NY Mets Training Facility. The two new buildings are currently under construction and should be operational in January 2016.

Michael Rauch, President of Rauch, Lupo Robertson & Co. and CRE Florida Partners commented, “These two new lease transactions represent a significant commitment for both HCA and Nurse on Call and clearly demonstrates the confidence that these and other companies are making in the medical industry in an improving local market.”

Robertson has been representing the Lake Whitney property since 2006.

Michael Rauch and Tom Robertson, principals of  CRE Rauch, Lupo, Robertson & Co. have facilitated the sale of 1280-1288 SW 29th Avenue in Pompano Beach, Florida.

The ±42,897 square foot USDA facility was sold to Murvest Fine Foods, a purveyor of meat and specially food products in Ft. Lauderdale, for $3,075,000.

Murvest acquired the facility to continue its next phase of expansion. The facility contains over ±32,000 SF of food processing space including freezers, coolers, cooking and dry storage areas plus approximately ±10,000 SF of air conditioned warehouse. The building was built in1984 and was Boston Market’s main south Florida commissary during the 1990’s. The acquisition by Murvest took over a year to complete.

The acquisition by Murvest took over a year to complete. “We are very pleased to have finally acquired the property, originally one of the most well designed USDA plants in south Florida,” said John Murphy, Murvest’s owner. “While there is much work yet to be done we are confident the facility will serve our needs well”, he said.

“The industrial market is certainly improving even for specialized buildings such as this one and both buyer and seller representation assignments are increasing for CRE”, stated Rauch. Robertson added, “We worked long and hard to complete this transaction and a lot of credit should be given to the buyer and seller for completing a difficult sale.”

Two investment groups have purchased two buildings located at 715 SW 17th Avenue and 725 SW 16th Avenue in Delray Beach.

Tom Robertson

Tom Robertson

Tom Robertson and Michael Rauch, Senior Managing Partners with CRE Rauch, Lupo, Robertson & Co., a CRE Florida Partners Company, procured both investors for the buildings.

The buildings, with a combined vacancy of more than 20%, traded for $55-$66 PSF.

Michael Rauch

Michael Rauch

“This was a particularly challenging closing due to the REO status of the 715 SW 17th Ave. property. Fortunately we were able to navigate the requirements on behalf of the buyer, HRA Properties and CREIG Corporation, resulting in a successful trade,” commented Rauch.

The high profile building, 725 SW 16th Avenue, is located East of I-95 and North of Linton Boulevard at SW 16th Avenue. Both of the buildings required significant capital investment to bring them into a “ready to lease” condition.

Robertson added, “Both transactions are great examples of private investors seeking well-located, value-added opportunities with some vacancy to provide upside through lease-up.  Palm Beach County’s industrial vacancy rate is approaching 7%, down from 9% earlier this year, with net absorption of nearly 37,000 SF in the third quarter, creating an even greater desire for investment in the county and greater South Florida area.”

The owners of the properties, MF Associates East Delray, LLC (725 SW 16th St.) and CREIG Corp. (715 SW 17th Ave.) were also represented by Robertson.

CRE Rauch, Lupo, Robertson & Co. represented tenant Atlantic Pediatric Partners (APP) as well as the landlord, South Florida Business Ventures III (SFBVIII), in the site selection of a new state of the art medical facility in Lighthouse Point, Florida.

The ten-year lease was executed in August 2013 between APP, the parent company of South Florida Pediatric Partners (SFPP) and the landlord SFBV III.

APP is an eight-office regional pediatric medical practice throughout Florida.

4701 N. Federal Highway, Lighthouse PointThe search for a new home for APP began in the fourth quarter of 2012.  The process was lengthy due to very specific location requirements for the practice. The new facility, located at 4701 N. Federal Highway, in Lighthouse Point is approximately 4,600 SF and will be home for 4 of the 25 physicians in the practice. Occupancy is scheduled for December 1, 2013.

“Warren Izard, a principal with South Florida Business Ventures III, worked very closely with us and understood our needs for this specialty medical practice,” said Michael Rauch, Managing Partner at CRE Rauch, Lupo, Robertson & Co.

“While the process to understand and define APP’s needs was very detailed the group worked well together as a team,” commented Izard.

South Florida Business Ventures is a regional landlord and owns several office and medical investment buildings in South Florida.

 

 

Rising Star Gymnastics, Inc. has signed a 20,000 square foot, 5-year lease at 6500 W. Rogers Circle in Boca Raton, Florida.

Michael Rauch and Tom Robertson, Senior Managing Partners with CRE Rauch Lupo Robertson, a CRE Florida Partners Company, negotiated the lease on behalf of the landlord, US Emlak Corporation.

The gym offers a wide range of gymnastics classes and camps in the Boca Raton area from beginner to advanced for all ages and is also home to the Rising Stars Gymnastics competitive team featuring gymnasts from Level 1 through Level 9. This group of girls competes in USAG and AAU competitions throughout the state of Florida as well as out of state meets. The gym also hosts sanctioned gymnastics meets in the fall and spring.

“Rising Star Gymnastics is an expanding and very successful gymnastics operation, prompting the need to double their space from their former Boca Raton location,” stated Robertson.  “6500 W. Rogers met their needs and kept them close to the location they have called home for the past 10 years.”

Rauch and Robertson just secured the 30,000 square foot leasing assignment last month.

“The property is situated in the heart of Boca Raton’s most desirable industrial submarkets with immediate access to I-95 and the Florida Turnpike, and will be desirable location for many types of uses,” said Rauch.

The class A industrial property features 24’ ceiling height, dock and ground level loading,100% air-conditioned, 3- phase power, and ample parking.