Tag Archive for: pompano beach industrial building sale

, , ,

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

ā€œThis is the fourth asset in South Florida that we have exclusively represented for GE,ā€ commented Robertson. ā€œIndustrial 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.ā€

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 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.

ā€œOur 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,ā€ commented Robertson. ā€œThis is an optimum time for an owner to consider selling.ā€

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