Peter “PJ” Apol and Ryan Goggins of Sunbeam Properties & Development represented the Park in the transactions, with Bob Banks of R.W. Banks Real Estate and Audley Bosch of JLL representing tenants.
“This off-market sale was uniquely timed, allowing both parties to capitalize on the opportunity.”
The bankruptcy petition estimates the Hollywood warehouse’s value at $3 million and the Dania Beach condos at $850,000.
In addition to ample square footage, the project will feature 32’ clear height, 16 loading docks, two ramps, a 120’ truck court and surface parking. The Butters organization will serve as the exclusive leasing agent.
Summit Realty acquired the vacant land for $20 million in 2023.
Foundry originally acquired the site for $8.75 million in 2022
The brokers will split time between the firm’s Miami and Deerfield Beach offices.
The industrial project is approved for eight buildings. Phase I of Race Track Logistics will comprise 620,738 square feet across four buildings with an expected completion date by September 2025.
The firm’s Adam Docktor is overseeing leasing at the business park.
The warehouses total 102,038 square feet.