Lee & Associates’s Milopoulos, Baena Broker Simultaneous Sale, Lease At Pompano Beach Industrial Property

Lee & Associates South Florida Principal Greg Milopoulos and Senior Vice President Christian Baena concurrently brokered a sale and lease at the same industrial property in Pompano Beach.

The 45,000-square-foot industrial building at 1290 SW 30th Ave. was sold for $8.65 million to Alliance HP Investments, LLC.

While working through the sale and due diligence period, Milopoulos secured a full-building tenant, East Coast Cabinetry, with the assistance of the tenant’s broker Richard D. Abraham, CCIM, SIOR, Broker-President with Abraham & Associates.

The tenant had 15 days to occupy the building from the onset of discussions due to the scheduled demolition of its previous location. Milopoulos and Baena arranged for the tenant to take occupancy during the tail end of the due diligence period while keeping the property sale on track to close.

“Transactions like these are not for the faint of heart and take a lot of dancing,” Milopoulos said. “It also takes strong relationships and trust with both the buyer, seller and tenant to get these kinds of deals across the finish line with many moving pieces. I personally thank Peter Derrico at Alliance HP and his entire team, who hung in there and went along for the ride.”

The building features four dock-high doors, two drive-ins, 22’ clear ceilings, 3,800 square feet of office space across two floors and an expansive parking lot.