Warehouse Space Trades Hands For Record Setting Price PSF In Broward County
CBRE has facilitated the sale of the Streeter Catering Building, a 4,078-square-foot flex industrial space located adjacent to Interstate 95 at 1113 S. 30th Avenue in Hollywood.
The property sold for $1,250,000, at over $300 per foot, setting a new record for Broward County. Flying Point managing principals Sam Genet and Zach Sohn are the buyers.
Benjamin H. Silver and Sebastian Misiewicz with CBRE represented the seller and the buyer in the transaction.
The property was previously used as a catering kitchen and vacant at the time of sale.
“While the warehouse space was functional, we recognized that the real value of the property would be its unique visibility along Interstate 95 and branding ability, similar to a major billboard; these features made the property extremely attractive to both investors and users alike. Despite an already hot warehouse market in South Florida, this property traded at more than twice the price of a traditional warehouse,” said CBRE Senior Vice President Ben Silver.
CBRE’s Sebastian Misiewicz added, “In addition to an already highly sought-after industrial market, we went to contract almost immediately after going to market, with strong back up activity from both investors and users looking for warehouses with similar features.”
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