Berger Commercial Realty/Corfac International Sales Associate Jordan Beck represented the seller, Issie Wiseman, as well as the buyer in the sale and purchase of a 112,000-square-foot small bay industrial portfolio.
Rubin Real Estate Group paid $20,245,420 for the portfolio, which includes the following properties:
1. 1301 S. Dixie Highway E, Pompano Beach: a 12,570-square foot Class C manufacturing building built in 1976
2. 825 NE 42nd St, Deerfield Beach: a 10,446-square-foot Class C warehouse building built in 1971
3. 601-605 NW 31st Ave, Pompano Beach: a 28,800-square-foot Class C warehouse building built in 1983
4. 1840-1862 NW 29th St, Oakland Park: an 18,000-square-foot Class C warehouse building built in 1972
5. 2420-2430 NW 16th Ln, Pompano Beach: a 10,000-square-foot Class B warehouse building renovated in 2014 and a 11,000-square-foot Class C warehouse building built in 1979
6. 5400-5404 NW 10th Ter, Fort Lauderdale: a 10,429-square-foot Class C light manufacturing building built in 1985
The transaction closed May 27.
“The portfolio fulfills a 1031 exchange for the buyer that sold properties in Miami-Dade County and saw more opportunity and upside in the small bay industrial market in Broward County,” explained Beck.
The buyer plans to improve the properties and stabilize the rent rolls with effective ownership and management.
About Berger Commercial Realty/CORFAC International: Berger Commercial Realty/CORFAC International is a regional, full service commercial real estate firm based in South Florida. Independent and privately owned since its founding in 1998, the firm is a member of CORFAC International, a global network of independently owned commercial real estate brokerage firms. The firm’s property management and brokerage services include tenant/landlord and buyer/seller representation; project and construction management; receiverships; agency/project leasing; capital advisory/investment sales; retail services and more. For more information about Berger Commercial Realty’s brokerage services, CALL 954.358.0900 or visit www.bergercommercial.com.
About CORFAC International: CORFAC International is a global network comprised of privately held entrepreneurial commercial real estate firms with expertise in office, industrial and retail brokerage, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC has 75 offices in the U.S., Canada and international markets, including Australia, France, Germany, Ireland, Italy, Japan, Malaysia, Netherlands, Romania, Russia, Singapore, South Korea, Switzerland, Thailand and United Kingdom. CORFAC offices close an average of 10,000 lease and sales transactions valued in excess of $9.0 billion annually, totaling 500 million square feet closed and 65 million square feet managed worldwide.