Berger Commercial Realty’s Jordan Beck Negotiates $66M Sale Of Small Bay Industrial Portfolio
Berger Commercial Realty / January 31, 2023
Berger Commercial Realty/Corfac International Sales Associate Jordan Beck represented the seller, Pompano/Lincoln Industrial Ltd, in the sale of a 355,000-square-foot, small bay industrial portfolio located at 3465 NW 19th St. in Lauderdale Lakes, Florida.
Odan Capital paid $65,800,000 for the buildings. The property is situated on approximately 17 acres.
The transaction closed January 10.
“The property was originally under contract in early 2022, but the buyer pulled out due to rising interest rates,” explained Beck. “Once put back under contact with the new buyer, Odan Capital, it took an incredible amount of resiliency from both buyer and seller to stay engaged in the deal in a continually changing market. This deal is a representation of the fact that small bay warehouse product in South Florida continues to be in high demand, both from an acquisitions standpoint and a leasing standpoint.”
-end-
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.
« Previous Next »