NGKF Capital Markets announced the recent completion of the $13.75 million sale of 1100 West McNab Road in Fort Lauderdale. The Class B building will remain the headquarters of ChildNet, the community-based care agency for Broward and Palm Beach counties.
NGKF Capital Markets Executive Managing Directors Adam Greenberg and Michael Lapointe and Managing Director Michael Lohmann represented the seller in the investment sale of the two-story, 82,854-square-foot building, which sits on 6.85 acres. The buyer, Clark-Ohio Associates, Inc., purchased the asset from Case Holding Company, Inc.
Greenberg, who led the Case Holding Company team in the sale, said, “This transaction was particularly attractive to the IRC §1031 exchange purchaser, due to the asset being a single-tenant and long-term net lease. It was exactly what the tax-deferred exchange buyer was looking for.”
The NGKF Capital Markets team, based in South Florida, comprises Greenberg, Lapointe and Lohmann, along with Senior Financial Analyst Scott Gordon and Senior Transaction Specialist Stephanie Ceballos. The team has executed more than $2.5 billion in institutional and private client transactions, over $1.5 billion in financing and brokerage transactions, and has traded over $750 million of residential and commercial loans and REO product. The team is recognized within Newmark Grubb Knight Frank’s (NGKF) national platform and is currently one of the top capital markets groups within NGKF’s Southeast region, having closed more than 30 deals in 2015.
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