Michael Scarpino Completes $15 Million Sale Of Dolphin Carpet & Tile Building

Michael Scarpino, CCIM, Broker/President of Scarpino Commercial Real Estate Services, Inc., negotiated the sale of a 71,820-rentable-square-foot industrial warehouse building, fronting on the north side of highly trafficked, six-lane West Hillsboro Boulevard in Deerfield Beach.  The property is ideally located immediately west of Interstate 95 in Broward County, midway between Miami-Dade and Palm Beach Counties, Florida.

The Dolphin Carpet & Tile Building was 57% leased at the time of the sale, with one, 30,800 square foot space available.  Most of the building and the parking lot and drainage were renovated approximately five years ago.  The building was originally built in the mid-seventies.

The property was sold on January 25 for $15,210,000 or $211.78 per rentable square foot. Scarpino represented the seller, Manilla 12 Associates, LLC. The buyer, BLUSV FL, was not represented by a broker.  The buyer is actively pursuing multi-tenant industrial properties in the South Florida and Orlando markets.  The company is a global real estate investment firm dedicated to buying and developing attractive, amenitized apartments, modern workspaces, quality affordable housing, service-rich seniors housing, and modernized industrial.

 

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