The lease was expertly orchestrated by Jake Michels, Sales Associate, and Joseph P. Byrnes, Senior Vice President at Berger Commercial Realty, who represented the landlord.
Currently home to two vacant multifamily buildings, the property will be demolished to make way for a new high-end development featuring exclusive residences.
This sale continues to showcase the strong demand for multifamily properties in the Fort Lauderdale area, particularly those with long-term tenants, which this property features.
The sale highlights the continued strength of the industrial real estate market in Fort Lauderdale, driven by increasing demand for warehousing solutions.
The sale was conducted as an all-cash transaction, underscoring the strong demand for real estate in this vibrant market.
The retail property, located at 1815 Cordova Road in Fort Lauderdale, totals 230,000 square feet.
Led by CEO Greg George and former Albertsons CEO Chairman Larry Johnston, The Peach Cobbler Factory is currently expanding in 19 states and will have 50 locations opened by 2023. The company has franchise commitments for an additional 200 locations and have recently moved its corporate headquarters to South Florida.