CBRE Arranges Acquisition Of 28,000 SF Industrial Space In Margate For 1031 Exchange Buyer

CBRE facilitated the acquisition of 28,000 square feet of industrial space in Margate.

The sale includes three warehouse distribution spaces at 5445 Northwest 24th Street #2, and 5449 Northwest 24th Street #2 and #3. The spaces feature 24-foot clearance height and HVAC. At the time of sale, it was fully leased to Sulzer Ltd., a Swiss industrial engineering and manufacturing firm.

A private investor purchased the property for $4.1 million.

Noah Ohayon with CBRE Industrial & Logistics secured the deal on behalf of a local private investor to satisfy their 1031 exchange. The property closed within 35 days of going under contract. Ohayon has closed over $120 million in sales since he started his career in 2020.