Berger Commercial Realty/Corfac International Vice President Jordan Beck represented the buyer, Bridge Logistics Properties (“BLP”), a subsidiary of Bridge Investment Group (NYSE: BRDG), in the purchase of a free-standing warehouse located at 290 SW 14th Ave. in Pompano Beach.
BLP paid the seller, GFS 14TH AVENUE, LLC, $5,800,000 for the 1975-built, 31,763-square-foot warehouse, which is situated on 2.2 acres of land. The deal closed February 16.
“BLP plans to improve the property by paving the rear yard area and adding fencing and lighting,” explained Beck. “The improvements will significantly enhance the value of the property for a future tenant and provide additional space for truck parking and loading.”
The property is currently occupied by Nefco, an industrial equipment supplier.
Berger Commercial Realty has also been retained to handle the leasing for the property.
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