, , , ,

CRE Florida Partners Completes Lease/Sale Of National Multiple Listing (NML) Industrial Facility

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. Lauderdale, NML 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.”

, , ,

CRE Florida Partners Completes 2nd Sale For The General Electric Company

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.

 

 

, , ,

CRE Florida Partners Secures Sale Of Tamarac Office/Medical Building

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.

, , , , ,

CRE Florida Partners Represents Investor In IRC 1031 Exchange Of Pompano Beach, Oakland Park Industrial Real Estate

cash

Michael Rauch, Senior Managing Partner with CRE Florida Partners and Rauch | Robertson & Co., recently negotiated the sale of an industrial property located at 741 NE 42ndStreet in Oakland Park.

The property, which sold for $1,440,000, or $96 per square foot, is a free-standing industrial building with a 1-acre adjacent outside storage yard. The building features 22’ clear ceiling height and several grade level overhead doors.

“This acquisition represents the ‘up-leg’ purchase of an IRC1031 tax free exchange,” explained Rauch. “We are very pleased to have successfully represented this buyer in both the ‘down-leg’ sale and ‘up-leg’ purchase phases of this tax free exchange.”

Rauch represented the buyer in the transaction.

 

 

 

 

, , ,

CRE Florida Partners Completes Sale On Behalf Of The General Electric Company

Michael Rauch and Tom Robertson, Senior Managing Partners with CRE Florida Partners, represented the owner, The General Electric Company (GE), in the sale of a laboratory/ manufacturing building located in Newport Center at 1121 W Newport Center Drive in Deerfield Beach.

The property sold for $3,000,000, equating to $128 per square foot on a 7% capitalization rate.

The 23,360-square-foot asset has been owned and operated by GE since 1998, when it developed the proprietary processes for manufacturing synthetic diamonds.

The tenant, Sandvik Inc., 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

Tom Robertson

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

 

Michael Rauch

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.

, , ,

CRE Florida Partners Closes Sale Of Two Broward Industrial Facilities

Tom Robertson & MIchael Rauch

Tom Robertson & MIchael Rauch

Tom Robertson and Michael Rauch, Senior Managing Partners with CRE Florida Partners, negotiated the sale of two industrial properties for a total of $2.6 million.

Robertson and Rauch represented the seller, 1311 NW 65th Place LLC, in the sale of an industrial property located at 1311-1309 NW 65th Place in Ft. Lauderdale. Built in 1982 on 1.01 acres, JMG 1994 LLC purchased the ±20,146-square-foot building for $2,000,000, or $100.00 per square foot. The building features heavy power and an AC warehouse with 4 dock high loading doors.

1101 S. Dixie Highway, Pompano Beach

1101 S. Dixie Highway, Pompano Beach

In a separate transaction, Michael Rauch represented the buyer and seller in the sale of an industrial property located at 1101 S. Dixie Highway in Pompano Beach. The buyer, Noebell Holdings, LLC, a fresh seafood distribution company, purchased the ±6,406 square-foot building for $600,000, or $93.66 per square foot, and has occupied the facility. The seller owned the property for over 10 years as an investment.

“Industrial distribution facilities are becoming harder to source and match our buyer’s needs to find available user/owner or investment industrial properties due to a shrinking inventory in South Florida’s market,” Robertson commented.

CRE Florida Partners is currently working with several buyers looking for 20,000 – 40,000 SF industrial buildings in Broward and Palm Beach County.

, , , ,

CRE Florida Partners Negotiates Sale Of Former Gulfstream International Airlines HQ

Michael Rauch

Michael Rauch

Michael Rauch, President and Managing Partner of CRE Florida Partners recently completed the sale of two freestanding office properties in Dania Beach. Both office properties located at 3201 Griffin Road.

Rauch originally sold the property to the ownership of Gulfstream International Airlines in 2005, which was used by the airline until 2010 as the company’s corporate headquarters. Gulfstream was sold in 2010 to Silver Airways. The owner of Gulfstream retained the buildings. Rauch was retained in 2012 to lease and stabilize the property for sale.

3201 Griffin Road-Dania Beach 2The asset was purchased by Miami-Dade investment group Salomon Investment Inc. as part of an IRC1031 exchange. Salomon purchased the ±30,379 SF office property for $3,120,000 or ±$103 per square foot on a ±6.5% capitalization rate. At the time of sale, the property was approximately 93% occupied.

“The sale of the Gulfstream International Airlines property represents the conclusion of several years of asset-repositioning for an investment sale,” commented Rauch. “The sales price also reflects a slow trend in strengthening office values in South Florida, which is badly needed and long overdue,” he added.

The deal closed March 31.  The buyer represented itself in the transaction.

, ,

CRE Florida Partners Closes Sale Of Coral Springs Industrial Facility

Tom Robertson and Michael Rauch

Tom Robertson and Michael Rauch

Tom Robertson and Michael Rauch, Senior Managing Partners with CRE Florida Partners, represented History and Heraldry (H&H) in the sale of their industrial real estate facility located at 4001 NW 124th Avenue in Coral Springs.

Advanced Care Solutions, a supplier and distributor of medical supplies and equipment, purchased the ±24,258-square-foot Class A industrial asset for $2,900,000, or $120 PSF.

The 2005-built property features tilt wall construction, 24’ warehouse clear height, fully-sprinkled with dock and grade-loading doors, elevator served, and heavy power on 1.51 acres.

“Industrial distribution facilities in South Florida are becoming harder to source and this purchase represented a very good match for both Seller and Buyer,” commented Rauch.

“It’s a very vibrant time for warehouse properties to be sold in South Florida. The availability of well-located industrial buildings is dwindling daily,” added Robertson.

 

, , ,

CRE Florida Partners Inks 32,000 SF Deal On Behalf Of DACO Worldwide Marketing Corp.

DACO Worldwide Marketing Corp. (DACO), a privately-held wholesale corporation and leader in supply chain logistics/distribution for construction materials to Central/South America and the Caribbean, has signed a 32,425-square-foot, 7-year lease at Davie Business Center-Building A, located at 3300 Davie Road in Davie, Florida.

Michael Rauch

Michael Rauch

Michael Rauch, Senior Managing Partner with CRE Florida Partners, negotiated the lease on behalf of DACO.

DACO will occupy the entire newly-completed distribution warehouse facility, which is owned and operated by Atlanta-based IDI.

The critical elements of the deal included a new ±4,500 SF office build-out as well as other amenities required in the loading dock area of the premises.

“Industrial distribution facilities in South Florida are becoming harder to source and matching our client’s needs to available product is no less difficult due to a shrinking inventory of industrial product in South Florida,” Mr. Rauch commented. “We are grateful to be able to successfully negotiate this critical lease to support DACO’s future growth.”

CBRE’s Larry Dinner represented the Landlord in the transaction.

, , ,

CRE Florida Partners Closes Over $25 Million In Deals In 2015

Tom Robertson and Michael Rauch

Tom Robertson and Michael Rauch

Michael Rauch and Tom Robertson, Senior Managing Partners with CRE Florida Partners, closed over 603,110 square feet of office, industrial and land sale and lease transactions valued at $25,162,500 in 2015.

Noteworthy deals that CRE Florida Partners closed include:

  • Nashville, Tennessee-based Hospital Corporation of America (HCA) (NYSE: HCA), a for-profit operator of health care facilities and largest such operator in the world, leased 22,700 square feet in 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 deal closed in June 2015. Tom Robertson represented the landlord in the deal.
  • Brookdale Corp. (NYSE: BKD), which merged with “Nurse On Call,” provides home healthcare solutions through skilled nursing and rehabilitation, leased 11,351 square feet at Lake Whitney Medical and Professional Park, representing an expansion of its facilities. 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. The deal closed in June 2015. Tom Robertson represented the landlord in the deal.
  • Sand & Steel Properties LLC purchased an industrial property located at 3411 SW 11th Street in Deerfield Beach, FL. 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. 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. The deal closed in October 2015.
  • Rauch and Robertson represented the seller in the sale of an industrial property located at 2150 NW 33rd Street in Pompano Beach, FL. 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. Allied Bingo Supplies of Florida, Inc. purchased the property from ACE Investment Holdings, LLC for $1,430,000, or $91.34 per square foot. The deal closed in December 2015.

“We anticipate this level of activity of lease and sale transactions to continue in 2016 within Broward and Palm Beach County markets – and certainly within the Pompano Beach area,” commented Rauch.

“As a result of the limited supply of investment product in the area and overpriced assets in Miami, Broward and Palm Beach continue to see steady demand and explosive growth and we expect it to outperform other markets across the U.S.,” added Robertson.

CRE Florida Partners is seeking leasing and investment sales professionals for its growing commercial real estate expansion in 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 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. Florida Real Estate License and Commercial Real Estate experience a must! Only qualified candidates should apply.

Interested parties should send resumes to mail@crefloridapartners.com.

Links:  CRE Florida Partners 2015 Transactions and Subject Property Photos

, ,

CRE Florida Partners Closes 16,000 SF Deal In Pompano Beach

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.”

 

, , ,

CRE Florida Partners Closes Sale Of Two Pompano Beach Office/Retail Assets

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.