Tag Archive for: deerfield beach industrial property sale

Deerfield Beach Warehouses Sold For $72 Million

Powerline Business Park_Photo Provided By Cushman & Wakefield 770x320

A group of 14 small-bay warehouses in Powerline Business Park in Deerfield Beach sold for $72.3 million.

Gateway Powerline BP LLC, care of San Francisco Stockbridge Capital Group and the Los Angeles County Employees Retirement Association, sold the combined 416,936 square feet of warehouses at 4100 N. Powerline Road and 1791 W. Sample Road to Redhawk FL LLC, care of New York-based Investcorp International Realty in partnership with Brennan Investment Group. Metlife Real Estate Lending provided the buyer with a $76.64 million mortgage, which also covered properties in other states. Property data firm Vizzda confirmed the buyer and seller information.

The price equated to $173 per square foot.

The deal was brokered by Cushman & Wakefield’s Jim Carpenter, Will Strong, Kirk Kuller, Michael Matchett, Molly Hunt, Mike Davis, Rick Brugge, Rick Colon, Dominic Montazemi, Jeff Chiate, Rick Ellison, Matthew Leupold, Robert Buckley, Tracey Cartledge, Scott Prosser, Steve Hermann and Jack Depuy. This team also brokered the sale of Montbello Industrial in Denver between the same parties.

It last traded for $62.25 million in 2019.

The industrial buildings were developed on the 26.4-acre site from 1983 to 1984. The site is just north of Sample Road.

 

Source: SFBJ

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CRE Florida Partners Closes On Deerfield Beach Industrial Sale

Tom Robertson, Co-Founder and Senior Managing Partner with CRE Rauch Robertson, CRE Florida Partners company, recently completed the sale of an industrial property located at 3411 SW 11th Street in Deerfield Beach to RMB Holdings LLC for $2,700,000.

This ±21,165 square foot facility, built in 1987, is situated on ±1.3 acres, which fronts both SW 10th and SW 11th Street.

Robertson has represented the leasing and sale interests for this building since 2002.

“The property’s close proximity to Sawgrass Expressway and I-95 via SW 10th Street certainly added tremendous value to the offering,” said Robertson.

The available sale inventory is low and CRE Florida Partners is currently working with several buyers looking for similar properties in North Broward and Southern Palm Beach County.

Tom Robertson

“This acquisition represents the ‘down leg’ sale of an IRC1031 Tax Free Exchange,” explained Robertson. “We are very pleased to represent this seller in both the “down leg” and “up leg” purchase of this tax free exchange.”

Michael Rauch

“This is just another example of how our firm handles long term relationships with our clients,” added Michael Rauch, CRE Florida Partners’ Senior Managing Partner. “Tom managed this property through lease up and sale with skill and patience while armed with critical market intelligence.”

CRE Rauch, Robertson & Co. is seeking leasing and investment sales professionals for its growing commercial real estate expansion in 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 firm’s Founders 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.

 

 

 

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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.

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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’ 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.