Small Industrial Buildings Gain Traction

While investors compete for large industrial buildings in Miami, some are picking up smaller industrial deals further north.
Two industrial buildings recently sold in Broward County:
CBRE arranged the sale of a 40,000 square-foot manufacturing building located at 1711 Blount Road in Pompano Beach, FL. CJJ Properties of Fort Lauderdalesold the asset for $1.75 million to Eddie Monserrat, a user in the aerospace industry.
“The health of the Pompano Beach industrial market is starting to improve,” says CBRE first vice president Tony Hoover, who represented both the buyer and the seller. “Many properties that were available during the last few months have been put under contract during the first quarter, confirming our expectations for a stronger sales market in 2013.”
Just off Coconut Creek Parkway and the Florida Turnpike, the free-standing manufacturing building offers Turnpike frontage as well as immediate Turnpike access. The industrial property on 2.5 acres and features 20-foot clear ceiling height with heavy power and 88 parking spaces.
Meanwhile, Keith Graves and St. George Guardabassi of Berger Commercial Realty, closed the $1.4 million sale of an industrial building that fronts Interstate 95 in between the Sunrise and Oakland Park boulevards in Fort Lauderdale. Specifically, the 23,434-square-foot property is located at 1400 N.W. 23rd Ave. Berger represented Hofmann Family Real Estate Holding LLC in the sale to 1400 NW 23rd Avenue Association LP.
Source:  GlobeSt.



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