3900 Coral Ridge Drive

Tom Robertson and Michael Rauch and, Senior Managing Partners with Boca Raton-based Rauch Robertson Commercial Realty Advisors, negotiated the sale of an ±81,000-square-foot investment-grade industrial asset located within the Corporate Park of Coral Springs.

The deal closed June 30.

Rauch and Robertson represented the Seller, a Manhattan-based commercial real estate developer and investment group, in the sale of the property, which is located at 3900 Coral Ridge Drive in Coral Springs, Florida. Built in the 1970’s by the Westinghouse Corporation, the property has been a multi-tenant facility and is currently occupied by a national medical manufacturing firm and a specialty glass manufacturer.

Elion Partners is a nationally recognized private investment firm with substantial holdings throughout Florida and the United States.

The property traded for $7,150,000 and is well-suited for light manufacturing uses. The building is situated on ±6 acres, is generator served and includes dock high loading.

“Industrial manufacturing facilities with large footprints are becoming harder to source in the South Florida market as high-cube distribution facility development continues to dominate,” Rauch commented.

RRCRA is currently working with several buyers looking for 10,000 – 40,000 SF industrial buildings in Broward and Palm Beach County.

The brokerage company is also seeking leasing and investment sales professionals for its growing commercial real estate expansion in Miami-Dade, Broward and Palm Beach counties. Multiple positions are available within these and other Florida markets, which offer a unique ground floor career opportunity to work closely with the firms Founder’s Tom Robertson and Michael Rauch to move their vision for the RRCRA brand forward. Commission and benefits are commensurate with experience. A Florida Real Estate License and Commercial Real Estate experience are required. Only qualified candidates should apply by forwarding resumes to mail@crefloridapartners.com.

 

Rauch Robertson & Co. Senior Vice President Dan Casey, CCIM represented the seller in the sale of a 12,184-square-foot office/warehouse facility located at 1358 E. Newport Center Drive in Deerfield Beach.

The building traded at $2,314,960 or $190 per square foot, marking the highest negotiated price per square foot for an industrial property in Newport Center and the firm’s second record breaking sale in the park in the past five months.

1358 W Newport Center Dr-front

In November 2019, Managing Partners Michael Rauch and Tom Robertson represented the seller in the sale of a 15,268-square-foot office/showroom/warehouse facility within the park. The building traded at $2,800,000, or $183 per square foot.

Newport Center is a large, master-planned professional business park located 5 minutes from Interstate I-95, just south of SW 10th Street, with easy access to the Sawgrass Expressway.  The park features two hotels, a daycare center, and is home to many notable businesses including JPMorgan Chase, Hoerbiger Compressor Technology, Quest Diagnostics, Sandvik Corporation, HYLA USA, and the Mapei Corporation.

“Businesses recognize the convenience and prestige that a Newport Center address provides, and this is why we’re seeing property values continue to rise,” explained Casey.

Rauch, Robertson & Co. is seeking leasing and investment sales professionals for its growing commercial real estate expansion in Miami-Dade, Broward and Palm Beach counties. Multiple positions are available within these and other Florida markets that offer a unique ground floor career opportunity to work closely with the firm’s Founders Tom Robertson and Michael Rauch to move their vision for the brand forward. Commission and benefits are commensurate with experience. A Florida Real Estate License and Commercial Real Estate experience are required. Only qualified candidates should apply by forwarding resumes to mail@crefloridapartners.com.

 

CRE Florida Partners  Managing Partner Michael Rauch and Tom Robertson represented the seller in the sale of a 15,268-square-foot office/showroom/warehouse facility located at 1432 E. Newport Center Drive in Deerfield Beach.

The building traded at $2,800,000, or $183 per square foot, marking the highest negotiated price for an industrial asset in Newport Center, a large, master-planned professional business park located 5 minutes from Interstate I-95, just south of SW 10th Street, with easy access to the Sawgrass Expressway.  The park features two hotels, a daycare center, and is home to many notable businesses including JPMorgan Chase, UM Sylvester, Quest Diagnostics, Sandvik Corporation, HYLA USA, and the Mapei Corporation.

“This Class A asset is the firm’s fourth sale within Newport Center, which included an exclusive investment assignment owned by the General Electric Company,” commented Robertson. “As industrial building users continue to expand their businesses the demand for this asset type will remain strong.”

CRE Rauch, Robertson & Co. is seeking leasing and investment sales professionals for its growing commercial real estate expansion in Miami-Dade, Broward and Palm Beach counties. Multiple positions are available within these and other Florida markets that offer a unique ground floor career opportunity to work closely with the firm’s Founders Tom Robertson and Michael Rauch to move their vision for the CRE Florida Partners brand forward. Commission and benefits are commensurate with experience. A Florida Real Estate License and Commercial Real Estate experience are required. Only qualified candidates should apply by forwarding resumes to mail@crefloridapartners.com.

 

 

Laskody

CRE Florida Partners Capital Markets is proud to announce the successful closing and funding of a first mortgage loan collateralized by a  ±42,000-square foot single-tenant/owner-user industrial warehouse property located in Boynton Beach.

The $2.5 million loan was made at a 48% loan-to-value ratio and contained a 10-year term with a 25-year amortization schedule.  The loan was procured and placed by Greg Laskody, CCIM, and was ultimately closed by a local private bank that will portfolio the loan on its balance sheet.

CRE Florida Partners (CRE) is a full-service commercial real estate company based in Boca Raton, Florida.

CRE’s Managing Partner Michael Rauch commented, “Debt placement is becoming a critical component for our clients in this very competitive lending market. Having the ability to source full-service solutions is critical to our clients’ success.”

Michael Rauch and Tom Robertson, Senior Managing Partners with CRE Florida Partners, represented the owners, T.G. Wright Jr. Properties LLC, in the sale of an industrial investment property located at 2150-2160 N. Andrews Ave. in Pompano Beach, Florida.

The ±16,438 square foot facility, which is situated on ±1.25 acres fronting Andrews Ave with easy access to Copans Rd.and I-95, sold for $1,515,000, or $92.16 per square foot on a 6.8% cap rate.

Built in 1984, the building features 24’ warehouse clear height, storefront hurricane grade windows, 1 dock loading door and 2 grade level loading doors.

CRE Florida Partners has represented the owners of this property since 2014.

Tom Robertson

Michael Rauch

“General industrial inventory is low in South Florida and this sale represented an opportunity for the buyer to enjoy a strong 6.8% cap rate and very competitive $92.16 price per square foot,” commented Rauch.

 

Michael Rauch and Thomas Robertson, co-founders of Rauch, Robertson & Co. and CRE Florida Partners, welcome Grant Rowars to its team of professional commercial real estate specialists.

Grant Rowars joins CRE Florida Partners as Vice President – Commercial Sales & Leasing, focusing on Industrial and Office properties in the Tri-County area.

As a real estate advisor, Grant works directly with the founding partners to bring over forty-five plus years of combined commercial real estate brokerage, development and management experience to his clients. His analytical background and degrees in finance and real estate bring unparalleled underwriting expertise and empowers his local market knowledge to help landlords and investors maximize their properties returns and execute strategically timed acquisitions and dispositions all while minimizing risk.

His focus at CRE Florida Partners is in the Industrial and Office sectors of the Tri-County area providing a wide range of services that include: investment sales, leasing, sale disposition, tenant and corporate representation, property underwriting, capital structure, financing, loan and asset due diligence, and IRC 1031 exchanges.

Grant is also serving as a 1st lieutenant and Executive Officer in the United State Army National Guard where he is responsible for the readiness and training of soldiers and the maintenance of +$50 Million in assets. The skill sets utilized in his military career are reflected in his dedication to the commercial real estate industry, which results in an unwavering commitment to loyalty, work ethic, and leadership.

Prior to joining CRE Florida Partners, Grant was a member of the Investment Sales and Capital Markets group of Colliers International where he worked on identifying, underwriting and brokering investment properties in the Tri-County area.

Michael Rauch and Thomas Robertson, co-founders of Rauch, Robertson & Co. and CRE Florida Partners, welcome Dan Casey, CCIM to its team of professional commercial real estate specialists.

Dan Casey, CCIM is a senior real estate advisor with over twenty-five years of commercial real estate brokerage, development and management experience. His extensive market knowledge and broad-based expertise enables him to identify sound investment opportunities and develop value-enhancing strategies that maximize investment returns and minimize risk.

Dan has brokered commercial property acquisitions, dispositions and provided underwriting and due diligence advisory services on property and portfolio transactions of more than $500 million. He has represented commercial property owners and tenants in office, industrial and retail lease transactions totaling 510,000 square feet. His extensive background includes complex property transactions and successfully implemented distressed real estate workout and repositioning plans.

His management experience includes asset management of institutional property portfolios of 3.7 million square feet of Class A office.  As a Development Project Manager, he oversaw the design and construction of over $68 million of new construction and capital improvements projects, as well as tenant improvement projects of more than 350,000 square feet of Class A office and retail space.

“Dan will be critical to expanding our firm’s Commercial Investment team throughout the tri-county areas in South Florida,” commented Rauch. “We are excited to have him as a member of our real estate family.”

Dan earned the prestigious CCIM designation in 2010 and has been an active member of the CCIM Florida Chapter since moving to the state from Southern California in 2009.  In 2017, he sat on the CCIM Florida Chapter’s Executive Committee, served on the East Coast District’s Board of Directors since 2015, and is currently serving his second consecutive term as District President.  Dan is a graduate of Trinity University where he majored in History and minored in Business.

CRE Rauch, Robertson & Co. is seeking leasing and investment sales professionals for its growing commercial real estate expansion in Broward and Palm Beach counties. Multiple positions are available within these and other Florida markets that offer a unique ground floor career opportunity to work closely with the firm’s Founders Tom Robertson and Michael Rauch to move their vision for the CRE Florida Partners brand forward. Commission and benefits are commensurate with experience. A Florida Real Estate License and Commercial Real Estate experience are required. Only qualified candidates should apply by forwarding resumes to mail@crefloridapartners.com.

 

Michael Rauch and Tom Robertson, Senior Managing Partners with CRE Florida Partners, represented the owners, MDS Builders, in the sale of an office building located within Boca Raton Professional Plaza at 301 Crawford Blvd. in Boca Raton.

The office building sold for $2,700,000 ($180 per square foot) with a cap rate of 6.4%.

The 1979-built 2-story office building, which is located in the heart of Downtown Boca Raton’s business district, totals  ±15,004 square feet and is 100% occupied. It has recently been updated and renovated.

“The property has a solid mix of local, well established tenants, very low deferred maintenance and a class “A” location, making it an attractive purchase,” commented Rauch.

Tom Robertson & MIchael RauchCRE Rauch, Robertson & Co. is seeking leasing and investment sales professionals for its growing commercial real estate expansion in Broward and Palm Beach counties. Multiple positions are available within these and other Florida markets that offer a unique ground floor career opportunity to work closely with the firm’s Founders Tom Robertson and Michael Rauch to move their vision for the CRE Florida Partners brand forward. Commission and benefits are commensurate with experience. A Florida Real Estate License and Commercial Real Estate experience are required. Only qualified candidates should apply by forwarding resumes to mail@crefloridapartners.com.

 

Tom Robertson, Co-Founder and Senior Managing Partner with CRE Rauch RobertsonCRE Florida Partners company, recently completed the sale of an industrial property located at 3411 SW 11th Street in Deerfield Beach to RMB Holdings LLC for $2,700,000.

This ±21,165 square foot facility, built in 1987, is situated on ±1.3 acres, which fronts both SW 10th and SW 11th Street.

Robertson has represented the leasing and sale interests for this building since 2002.

“The property’s close proximity to Sawgrass Expressway and I-95 via SW 10th Street certainly added tremendous value to the offering,” said Robertson.

The available sale inventory is low and CRE Florida Partners is currently working with several buyers looking for similar properties in North Broward and Southern Palm Beach County.

Tom Robertson

“This acquisition represents the ‘down leg’ sale of an IRC1031 Tax Free Exchange,” explained Robertson. “We are very pleased to represent this seller in both the “down leg” and “up leg” purchase of this tax free exchange.”

Michael Rauch

“This is just another example of how our firm handles long term relationships with our clients,” added Michael Rauch, CRE Florida Partners’ Senior Managing Partner. “Tom managed this property through lease up and sale with skill and patience while armed with critical market intelligence.”

CRE Rauch, Robertson & Co. is seeking leasing and investment sales professionals for its growing commercial real estate expansion in Broward and Palm Beach counties. Multiple positions are available within these and other Florida markets that offer a unique ground floor career opportunity to work closely with the firm’s Founders Tom Robertson and Michael Rauch to move their vision for the CRE Florida Partners brand forward. Commission and benefits are commensurate with experience. A Florida Real Estate License and Commercial Real Estate experience are required. Only qualified candidates should apply by forwarding resumes to mail@crefloridapartners.com.

 

 

 

Michael Rauch and Thomas Robertson, Senior Managing Partners with Rauch Robertson & Co., are pleased to announce the completion of the lease/sale transaction of the National Multiple Listing (NML) property located at 6601 N. Andrews Avenue in Ft. Lauderdale’s Cypress Creek Uptown Business District.

NML has been a business leader and icon in the real estate marketing/print/photography industry for more than 50 years. With the completion of the lease/sale on the ±42,737 warehouse/manufacturing building to Over the Top, Inc., a national linen services company also based in Ft. LauderdaleNML can now move into a new phase of its business operations.

This uniquely-located property features 100% AC and sprinklered warehouse, 2 loading docks, 1 grade level door, electric overhead doors, 2 executive covered parking garages, heavy power, and more than 8,000 square feet of office/showroom.

Over the Top, Inc. was represented by Coldwell Banker Real Estate.

Tom Robertson and Michael Rauch

Mr. Rauch commented, “We are very pleased to have been able to assist this well-respected family of business entrepreneurs and we wish them the best in all future endeavors.”

Robertson added, “We currently represent several prospective active buyers that are utilizing our firm to source industrial properties from 30,000 to 45,000 square feet in Broward County.”

Michael Rauch and Tom Robertson, Senior Managing Partners with CRE Florida Partners, Rauch Robertson & Co., represented the owner, The General Electric Company (GE), in the sale of a laboratory/ manufacturing building located at 3041 Gateway Drive in Pompano Beach, Florida.

The property sold for $775,000 on a 6.9% capitalization rate.

The 10,068-square-foot laboratory/manufacturing building has been owned and operated by GE since 2000, when it developed the proprietary processes for manufacturing of synthetic diamonds.

The tenant, Sandvik Inc., which purchased the proprietary process from GE through a series of acquisitions, is a world leader in the development and production of synthetic diamond and cubic boron nitride products for industrial applications such as cutting, machining, oil and gas drilling, grinding, rock drilling and wire drawing. Sandvik is a publically-traded International company with over 47,000 employees worldwide.

Tom Robertson

“This is the fourth asset in South Florida that we have exclusively represented for GE,” commented Robertson. “Industrial investment inventory is low in South Florida and CRE Florida Partners is currently working with several buyers looking for similar properties in Broward and Palm Beach counties.”

Michael Rauch

“Identifying quality industrial/distribution investment properties in South Florida continues to be a challenge and we are continuously sourcing these properties for our clients,” added Rauch.

 

 

Michael Rauch and Tom Robertson, Senior Managing Partners with CRE Florida Partners, represented the seller in the sale of an office/medical building located at 8333 W. McNab Road in Tamarac, Florida.

The property sold on May 23 for $3,800,000, equating to $89 per square foot on a 6.9% capitalization rate.

The ±42,481-square-foot asset has been owned and operated by the current owner since about 2005. This multi-tenant building offers tenants a variety of office solutions for both Medical and Professional uses.

Tom Robertson

“This medical/office building is well located for tenants, given its immediate access the Sawgrass Expressway, I-95, and Florida’s Turnpike, as well as the asset’s close proximity to University Hospital,” commented Robertson.

According to Robertson, quality assets like this are in demand. CRE Florida Partners is currently working with several buyers looking for similar assets in Broward and Palm Beach counties.

Michael Rauch

“Well-located medical office properties with strong occupancy rates continue to perform above market expectations,” added Rauch.

The brokerage company is also seeking leasing and investment sales professionals for its growing commercial real estate expansion in Miami-Dade, Broward and Palm Beach counties. Multiple positions are available within these and other Florida markets, which offer a unique ground floor career opportunity to work closely with the firms Founder’s Tom Robertson and Michael Rauch to move their vision for the CRE Florida Partners brand forward. Commission and benefits are commensurate with experience. A Florida Real Estate License and Commercial Real Estate experience are required. Only qualified candidates should apply by forwarding resumes to mail@crefloridapartners.com.