APEX Capital Realty announced the closing of an industrial development site located at 1100 W McNab Road in Fort Lauderdale.
Miguel Pinto, APEX’s Managing Broker/President, and Adriano Salucci, an APEX Commercial Advisor, represented the buyer, Doug Levine. The seller, Clark-Ohio Associates Inc, was represented by Katalyst Real Estate and Development LLC’s Don Ginsberg and Michael Lewin.
The buyer, Doug Levine, paid $15 million for the asset. Levine is a prominent figure in the commercial real estate redevelopment scene. Originally from New York, Doug came down to South Florida and along with his wife and founded Fridababy, an innovative baby products company. Doug went on to create Big Move
Properties. Big Move Properties is a commercial real estate redevelopment agency that has focused on bringing creative spaces to neighborhoods. Some of its signature projects include the Atrium at Trackside and Campus on 28th located in Wynwood. They have also made a splash
in the neighborhood of Allapattah with creative spaces that include Allapattah Marketplace and The 2900 Allapattah.
1100 W. McNab Rd comprises of 6.85 acres of industrial land. Currently, a single tenant office building on the property totalling 133,000 square feet is in use . The property is located in a prime industrial location with a traffic count of 22,621 vehicles per day and is only minutes away from Interstate 95.
“Demand for industrial covered land in North Fort Lauderdale is high,” commented Pinto. “Knowing this, the buyer did not hesitate to jump on this opportunity. This transaction secures an above market return while aggregating close to 7 acres to the buyer’s portfolio. We are proud to say that the transaction of 1100 McNab Rd has become a historical sale as it is one of the highest sales for industrial land in North Fort Lauderdale.”
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