The properties, located at 3240 SE 6th Avenue and 501 SE 33rd Street in Fort Lauderdale were sold to an owner/user for $1,475,000.
Larry Dinner of CBRE is the leasing representative for IDI Logistics for the new building.
Bridge Industrial had the property rezoned and subsequently built two Class A industrial Building for a total of ±174,129 SF.
The sale was a classic value-add opportunity with rents at 10-20% below market for small bay warehouses.
Bridge’s growing South Florida asset management portfolio currently spans 5 MSF+ of Class-A industrial space.
CBRE’s Larry Genet, Tom O’Loughlin, and Jake Zebede represented the owner in the sale of the industrial warehouse.
The leases bring Hillsboro Technology Center’s Building E, a 123,290 square foot industrial building and Building F, a 151,852 square foot industrial building, to 100% leased.
GAL Enterprises of Plantation, LLC sold the unit in an off-market deal.
The transaction closed June 9 for $9,075,000, or $118 per square foot.
The sales price equates to $193.00 per square foot.
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