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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 22ā€™ clear ceiling height and several grade level overhead doors.

ā€œThis acquisition represents the ā€˜up-legā€™ purchase of an IRC1031 tax free exchange,ā€ explained Rauch. ā€œWe are very pleased to have successfully represented this buyer in both the ā€˜down-legā€™ sale and ā€˜up-legā€™ purchase phases of this tax free exchange.ā€

Rauch represented the buyer in the transaction.

 

 

 

 

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 LLCĀ purchased the Ā±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 RauchĀ 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 Ā±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.

ā€œIndustrial distribution facilities are becoming harder to source and match our buyerā€™s needs to find available user/owner or investment industrial properties due to a shrinking inventory in South Floridaā€™s market,ā€ Robertson commented.

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