SVN Commercial Partners’ Adam H. Klein, Elon Gerberg Negotiate Sale Of Fort Lauderdale Retail Plaza
Klein and Gerberg represented the buyer, Brickbox Management LLC, in the transaction.
Klein and Gerberg represented the buyer, Brickbox Management LLC, in the transaction.
NewRock Real Estate Partners LLC and Brickbox Properties purchased the asset from Schulz and Schulz Realty.
The property sold for $532 a square foot, which reflects a 4.11% cap rate.
The fully-occupied retail plaza features 138 feet of frontage along North State Rd 7 (US Highway 441), benefiting from a daily traffic count of over 52,000 vehicles.
Combined, the entities have a primary market area that covers all of south and southwest Florida with a combined 4 offices.
With a sale price of ±$185 per square foot, the sale established a new high watermark for small bay warehouses.
Formerly of Marcus and Millichap, the pair has been chosen to lead the newly formed ‘ROI Partners’ (Retail, Office, and Industrial) at SVNCP.
CRE-sources, Inc. is committed to ensuring that individuals with disabilities can access all of the goods, services, facilities, privileges, advantages, and accommodations that we offer through our website.If you are having trouble accessing the website, please call us at 954.290.3866 for assistance.
