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.
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.