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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.

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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

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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.”

 

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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.

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CRE Florida Partners’ Tom Robertson Negotiates Sale Of Deerfield Beach Industrial Facility

Tom Robertson, Senior Managing Partner with CRE Rauch Lupo Robertson, CRE Florida Partners Company, recently completed the sale of an industrial property located at 3411 SW 11th Street in Deerfield Beach.

3411 SW 11th Street Deerfield BeachSand & Steel Properties LLC purchased the asset 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.

“The property’s close proximity to Sawgrass Expressway and I-95 via SW 10th Street certainly added tremendous value to the offering,” said Robertson. CRE Florida Partners is currently working with several buyers looking for 20,000 – 40,000 SF Industrial buildings in Broward and Palm Beach County.

Tom Robertson

Tom Robertson

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.

“This transaction is one of the best examples I’ve seen of the way our firm handles long term relationships with our clients. Tom managed this property through lease up and sale with skill and patience,” added CRE Rauch Lupo Robertson Senior Managing Partner Michael Rauch.

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Two National Companies Ink 34,000 SF In Lease Deals At Lake Whitney Medical & Professional Park

LakeWhitneyPhaseIII - Side ViewNashville, Tennessee-based Hospital Corporation of America (HCA) (NYSE: HCA), a for-profit operator of health care facilities and largest such operator in the world, announced that it has leased 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 Campus is situated on over 15 lake-front acres in the heart of St. Lucie West’s retail, restaurant and entertainment district. The new location will help HCA service its clients in St. Lucie County. The 22,700-square-foot space will be split between primary care doctors and specialty services such as OB-GYN and cosmetic surgery.

Tom Robertson

Tom Robertson

Tom Robertson, principal of CRE Florida Partners and Rauch, Lupo, Robertson & Co., represented the landlord in the deal. J. Forbes, CCIM with Barron and Associates represented HCA.

Brookdale Corp. (NYSE: BKD), also leased 11,351 square feet at Lake Whitney Medical and Professional Park, representing an expansion of its facilities.  Brookdale Corp., which merged with “Nurse On Call,” provides home healthcare solutions through skilled nursing and rehabilitation.  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.

Robertson represented the landlord while Brian Lightle with LBR Inc. represented the tenant in the deal.

Robertson commented, “We see a trend of national companies returning to St. Lucie County, especially with the appeal of Lake Whitney Office/Medical Park in the St. Lucie West market.”

The 20-acre, 165,000-square-foot medical office campus offers ideal live/work amenities including superb highway access, retail amenities within walking distance and luxurious residential communities coupled with top quality office space.

LakeWhitneyMedical&ProfessionalOffices

The campus’ two newest buildings front Peacock Blvd and are just minutes from Exit #121 on I-95, near the NY Mets Training Facility. The two new buildings are currently under construction and should be operational in January 2016.

Michael Rauch, President of Rauch, Lupo Robertson & Co. and CRE Florida Partners commented, “These two new lease transactions represent a significant commitment for both HCA and Nurse on Call and clearly demonstrates the confidence that these and other companies are making in the medical industry in an improving local market.”

Robertson has been representing the Lake Whitney property since 2006.

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CRE Florida Partners Closes USDA Facility Sale In Pompano’s Gateway Industrial Park

Michael Rauch and Tom Robertson, principals of  CRE Rauch, Lupo, Robertson & Co. have facilitated the sale of 1280-1288 SW 29th Avenue in Pompano Beach, Florida.

The ±42,897 square foot USDA facility was sold to Murvest Fine Foods, a purveyor of meat and specially food products in Ft. Lauderdale, for $3,075,000.

Murvest acquired the facility to continue its next phase of expansion. The facility contains over ±32,000 SF of food processing space including freezers, coolers, cooking and dry storage areas plus approximately ±10,000 SF of air conditioned warehouse. The building was built in1984 and was Boston Market’s main south Florida commissary during the 1990’s. The acquisition by Murvest took over a year to complete.

The acquisition by Murvest took over a year to complete. “We are very pleased to have finally acquired the property, originally one of the most well designed USDA plants in south Florida,” said John Murphy, Murvest’s owner. “While there is much work yet to be done we are confident the facility will serve our needs well”, he said.

“The industrial market is certainly improving even for specialized buildings such as this one and both buyer and seller representation assignments are increasing for CRE”, stated Rauch. Robertson added, “We worked long and hard to complete this transaction and a lot of credit should be given to the buyer and seller for completing a difficult sale.”

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CRE Rauch Lupo Robertson & Co. Closes 47,000 SF Deal

Two investment groups have purchased two buildings located at 715 SW 17th Avenue and 725 SW 16th Avenue in Delray Beach.

Tom Robertson

Tom Robertson

Tom Robertson and Michael Rauch, Senior Managing Partners with CRE Rauch, Lupo, Robertson & Co., a CRE Florida Partners Company, procured both investors for the buildings.

The buildings, with a combined vacancy of more than 20%, traded for $55-$66 PSF.

Michael Rauch

Michael Rauch

“This was a particularly challenging closing due to the REO status of the 715 SW 17th Ave. property. Fortunately we were able to navigate the requirements on behalf of the buyer, HRA Properties and CREIG Corporation, resulting in a successful trade,” commented Rauch.

The high profile building, 725 SW 16th Avenue, is located East of I-95 and North of Linton Boulevard at SW 16th Avenue. Both of the buildings required significant capital investment to bring them into a “ready to lease” condition.

Robertson added, “Both transactions are great examples of private investors seeking well-located, value-added opportunities with some vacancy to provide upside through lease-up.  Palm Beach County’s industrial vacancy rate is approaching 7%, down from 9% earlier this year, with net absorption of nearly 37,000 SF in the third quarter, creating an even greater desire for investment in the county and greater South Florida area.”

The owners of the properties, MF Associates East Delray, LLC (725 SW 16th St.) and CREIG Corp. (715 SW 17th Ave.) were also represented by Robertson.

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CRE Rauch Lupo Robertson Closes Ten-Year Medical Office Lease

CRE Rauch, Lupo, Robertson & Co. represented tenant Atlantic Pediatric Partners (APP) as well as the landlord, South Florida Business Ventures III (SFBVIII), in the site selection of a new state of the art medical facility in Lighthouse Point, Florida.

The ten-year lease was executed in August 2013 between APP, the parent company of South Florida Pediatric Partners (SFPP) and the landlord SFBV III.

APP is an eight-office regional pediatric medical practice throughout Florida.

4701 N. Federal Highway, Lighthouse PointThe search for a new home for APP began in the fourth quarter of 2012.  The process was lengthy due to very specific location requirements for the practice. The new facility, located at 4701 N. Federal Highway, in Lighthouse Point is approximately 4,600 SF and will be home for 4 of the 25 physicians in the practice. Occupancy is scheduled for December 1, 2013.

“Warren Izard, a principal with South Florida Business Ventures III, worked very closely with us and understood our needs for this specialty medical practice,” said Michael Rauch, Managing Partner at CRE Rauch, Lupo, Robertson & Co.

“While the process to understand and define APP’s needs was very detailed the group worked well together as a team,” commented Izard.

South Florida Business Ventures is a regional landlord and owns several office and medical investment buildings in South Florida.

 

 

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CRE Rauch Lupo Robertson Leases 20,000 SF To Rising Star Gymnastics

Rising Star Gymnastics, Inc. has signed a 20,000 square foot, 5-year lease at 6500 W. Rogers Circle in Boca Raton, Florida.

Michael Rauch and Tom Robertson, Senior Managing Partners with CRE Rauch Lupo Robertson, a CRE Florida Partners Company, negotiated the lease on behalf of the landlord, US Emlak Corporation.

The gym offers a wide range of gymnastics classes and camps in the Boca Raton area from beginner to advanced for all ages and is also home to the Rising Stars Gymnastics competitive team featuring gymnasts from Level 1 through Level 9. This group of girls competes in USAG and AAU competitions throughout the state of Florida as well as out of state meets. The gym also hosts sanctioned gymnastics meets in the fall and spring.

“Rising Star Gymnastics is an expanding and very successful gymnastics operation, prompting the need to double their space from their former Boca Raton location,” stated Robertson.  “6500 W. Rogers met their needs and kept them close to the location they have called home for the past 10 years.”

Rauch and Robertson just secured the 30,000 square foot leasing assignment last month.

“The property is situated in the heart of Boca Raton’s most desirable industrial submarkets with immediate access to I-95 and the Florida Turnpike, and will be desirable location for many types of uses,” said Rauch.

The class A industrial property features 24’ ceiling height, dock and ground level loading,100% air-conditioned, 3- phase power, and ample parking.