CBRE Industrial Team's Larry Genet Tom O'Loughlin Jake Zebede 800x400

Fort Lauderdale Industrial Warehouse Fetches $195 PSF

CBRE Senior Vice President Larry Genet, Executive Vice President Tom O’Loughlin, and Senior Associate Jake Zebede represented Jaw Collective LLC in the sale of the Admiral Canvas Building, a 5,085-square-foot industrial warehouse located at 512 SE 32 Street in Fort Lauderdale, within the Marina Mile district.

The property sold for $980,000.

Helen Weissman, CCIM, First Vice President with CBRE represented the buyer, Nouveau Elevator, in the transaction. The deal closed June 16.

512 se 32nd street fort lauderdaleThe 1961-built facility features a ±2,760-square-foot warehouse with 1 drive-in door, 3 phase power, and a ±2,325-square-foot second floor office area and is fully-gated and secure.

“Our team is pleased to have achieved a great price from an all-cash buyer who performed very quickly,” commented Genet. “I don’t think a lot of people know we work on smaller buildings. We are focused on setting the market in all categories.”

The building was previously occupied by the owner, Admiral Canvas, a custom marine canvas and upholstery company, which doubled in size and purchased a larger facility in the neighborhood. There is a shortage of similar smaller buildings for sale in South Florida which has led to substantial increases in pricing.

 

Share and Enjoy:
  • email
  • Facebook
  • LinkedIn
  • Twitter
 

-------------------------

Get the latest industry news and information from CRE-sources delivered right to your email inbox!

And we promise…no more than one email each morning.

 

CLICK HERE TO SUBSCRIBE TODAY!

 
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.