Tag Archive for: oakland park industrial property sale

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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.