Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt represented the seller,Holman Automotive, Inc., in the sale of its retail/office property located at 1400 South Federal Highway in Fort Lauderdale, Florida.
Nautical Ventures (NV FL Holdings, LLC) represented by Keith R. Graves, CCIM, Senior Vice President with Berger Commercial Realty, paid $6,000,000 for the asset.
The deal closed December 23.
The 12,359-square-foot building, which is situated on 1.1 acres, was the former home of Lauderdale BMW. The two-story retail/office building features 270 feet of frontage on South Federal Highway in the heart of the 17th Street Causeway/State Road 84 “yacht capital of the world” corridor. Nautical Ventures is relocating a Marine Superstore from Dania Beach and also operates at other locations throughout Florida. This facility will include a boat dealership and showroom.
With more than 30 years of experience in commercial real estate and has executive-level contacts in the real estate, banking and automotive industries, Hyatt has a long-standing relationship with Holman Automotive Group expanding more than 10 years. Graves represented Nautical Ventures in a previous transaction.
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 (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. In association with global affiliates, CORFAC International has 60 North American offices and 20 offices in global markets. Founded in 1989, CORFAC firms completed more than 11,000 lease and sales transactions totaling approximately 500 million square feet of space valued in excess of $8.5 billion in 2015. For more information on the CORFAC network, call 224.257.4400 or visit www.corfac.com.