FORT LAUDERDALE, Fla. (January 4, 2016) – Berger Commercial Realty President Lloyd Berger and Broker Associate Greg Milopoulos recently represented McNab Commercial Center No. 1, LLC in the $8 million sale of McNab Commercial Center to Genet Property Group. The transaction closed December 15.
“Genet Property Group was the ideal buyer for this property as they understand the value and characteristics of owning and managing small bay warehouse space. There’s no better operator of this type of product,” Berger said.
Located at 7544 W. McNab Road in North Lauderdale, the 135,000-square-foot multi-tenant industrial park was locally owned and managed by McNab Commercial Center No. 1, LLC, a partnership between commercial real estate developers Jack Loos and Austin Forman that extends more than 20 years.
McNab Commercial Center is situated on an 8.13-acre lot just west of U.S. 441 and north of Commercial Boulevard, providing convenient access to Florida’s Turnpike and the Sawgrass Expressway. The property features ample parking, grade-level overhead doors and up to 14 feet of clear ceiling height. McNab Commercial Center is currently 98 percent occupied.
Genet Property Group was represented by Levy Realty Advisors in the transaction.