Berger Commercial Realty Arranges Sale Of Small Bay Asset In Fort Lauderdale
Berger Commercial Realty announced the sale of Palm Crossing South, a two-building, 61,135-square-foot small bay asset located at 3330-3350 NW 53rd Street in Fort Lauderdale.
BKM Capital Partners, L.P. acquired the property from SPG Palm Crossing, LLC. Berger Commercial Realty Senior Vice Presidents Jonathan Thiel and Keith Graves, CCIM, SIOR, along with Vice Presidents Daniel Forman and Lawrence Oxenberg represented the seller in the transaction. The sale closed September 8.
“Palm Crossing South presented an attractive opportunity for an experienced industrial investor,” said Thiel. “The property’s existing improvements exceed what many current small bay users need. Rightsizing the improvements can make the space better suited to those users and strengthen its long-term appeal.”
Palm Crossing South is occupied by multiple industrial tenants. BKM plans to reposition the vacant units by reducing existing office buildout and converting portions to warehouse space. The buyer also plans exterior capital improvements.
The planned work would adjust the level of improvements to better match the needs of small-bay industrial users.
Key Facts
- Property: Palm Crossing South
- Location: 3330-3350 NW 53rd Street, Fort Lauderdale, FL
- Asset Type: Small-bay industrial
- Transaction Type: Sale
- Buyer: BKM Capital Partners, L.P.
- Seller: SPG Palm Crossing, LLC
- Size: 61,135 square feet across two buildings
- Brokers: Berger Commercial Realty’s Jonathan Thiel, Keith Graves, CCIM, SIOR, Daniel Forman and Lawrence Oxenberg represented the seller
- Other Notable Details: Sale closed September 8. The property is occupied by multiple industrial tenants. BKM plans to reposition vacant units by reducing office buildout, converting portions to warehouse space and making exterior capital improvements.
