Category: News

Abacus Acquisitions, LLC/4 Rivers Property Group has successfully closed on the acquisition of a 3.88-acre parcel of vacant land located at 1400 Progresso Drive in Fort Lauderdale.

The property, which was previously utilized as an automobile storage lot by Audi Fort Lauderdale, was purchased for $6.5 million from Broward Automotive, Inc. The transaction was brokered by Steve Hyatt, Senior Vice President at Berger Commercial Realty/CORFAC International, who represented the seller in the deal.

The buyer plans to develop the property into a 4-building self-storage facility, with plans already approved for a 150,000 square foot self-storage complex.

The property’s strategic location, just north of downtown Fort Lauderdale in the rapidly growing Central City/Progresso area, makes it an ideal site for development. The area has seen significant residential growth, with over 15,000 new residential units completed or under construction, driving demand for self-storage.

Steve Hyatt noted, “This property’s prime central location, combined with the strong demand for self-storage, made it an attractive opportunity for the buyer. I am pleased to have helped facilitate this successful transaction.”

Hyatt previously sold the property to Broward Automotive Group in May 2013 for $3,150,000 and also represented Audi Fort Lauderdale in the purchase of their current dealership location at 1200 North Federal Highway in Fort Lauderdale. Hyatt represented the seller in that transaction.

Hyatt has extensive experience in the automotive retail industry and has represented multiple dealership groups with their real estate needs in South Florida and across multiple national markets. Prior to Berger, Hyatt served as a corporate development executive with publicly traded AutoNation (NYSE: AN) from 1996 to 2008.

Berger Commercial Realty/CORFAC International is pleased to announce the successful off-market sale of a 10,087 square foot industrial building located at 200 SW 33rd Street and a .54-acre lot located at 3309 SW 2nd Ave. in Fort Lauderdale.

The transaction, which closed on October 21, marks a significant investment in the area’s robust industrial sector.

JLK MGT LLC, the buyer, purchased the property for $2,550,000 from OLAM FTL 1, LLC, a California-based company. The property is situated in a strong industrial area, making it an ideal acquisition for JLK MGT LLC as they expand their footprint in the region.

Jake Michels, Sales Associate at Berger Commercial Realty, represented JLK MGT LLC in this transaction.

“We are thrilled to have facilitated this acquisition, which reflects the growing demand for industrial spaces in South Florida. The location’s strategic advantages make it a valuable addition to JLK MGT LLC’s portfolio,” commented Michels.

The sale highlights the continued strength of the industrial real estate market in Fort Lauderdale, driven by increasing demand for warehousing solutions.

Berger Commercial Realty/CORFAC International is pleased to announce the successful off-market sale of a 5,800-square-foot multifamily building located at 701 SE 22nd Street in Fort Lauderdale.

The property, a generationally owned property that has been in the family since the 1980s which features eight units (four 1-bedroom and four 2-bedroom apartments), was sold for $2,100,000 to JLK MGT LLC by OLAM FTL 1, LLC.

The deal closed November 5.

The transaction was facilitated by Berger Commercial Realty Sales Associate Jake Michels and Senior Vice President Joseph P. Byrnes, who represented the buyer in this significant purchase. This sale continues to showcase the strong demand for multifamily properties in the Fort Lauderdale area, particularly those with long-term tenants, which this property features.

“This transaction not only reflects the vibrant real estate market in Fort Lauderdale but also underscores the value of generationally owned properties,” said Michels. “We are excited to see JLK MGT LLC take ownership of this asset and continue its commitment to the community.”

Notably, this marks the second successful transaction on SE 22nd Street for Michels and Byrnes, having previously represented the buyer in acquiring the adjacent property at 705 SE 22nd Street.

Solotech Sales & Integration USA, Inc., a global leader in audiovisual and entertainment technology, has signed a significant lease for two new facilities in Miami Lakes.

The company will occupy a total of 26,940 square feet, including a 20,000 square foot industrial lease at Rosewood Square located 7855 NW 148th Street and 6,940 square feet of office space at the Spessard Holland Building located at 8000 Governors Square Blvd.

The lease was facilitated by Berger Commercial Realty/CORFAC International‘s Senior Vice President Keith R. Graves, CCIM, SIOR, and Vice President Lawrence Oxenberg, who represented Solotech in this transaction.

Founded in 1977, Solotech operates over 23 locations worldwide, providing innovative audiovisual solutions and technology services. The company is relocating from its current facility in Miami to enhance its operational capabilities.

“Solotech was attracted to Miami Lakes for its highway accessibility, corporate park environment, area amenities, and the functionality of both the office and industrial spaces,” explained Graves. “These factors make it an ideal location for their needs.”

“The new facilities in Miami Lakes will allow Solotech’s office, distribution, storage, and technology units to operate and expand in more modern and functional settings,” added Oxenberg.

The move underscores Solotech’s commitment to growth and innovation in the audiovisual and entertainment technology sectors.

Berger Commercial Realty/CORFAC International Senior Vice Presidents Keith R. Graves, CCIM, SIOR and Jonathan Thiel, Sales Associate Daniel Forman, and Vice President Lawrence Oxenberg, represented LRF 3 MIA 19th Street, LLC, an entity of Boston-based Longpoint Realty Partners, in the lease renewal and expansion of Halpern’s Steak and Seafood at the Parkway Commerce Center.

The new agreement secures 83,793 square feet of space, which includes an expansion of 14,560 square feet.

Located at 1919 NW 19th Street in Fort Lauderdale, Parkway Commerce Center is a large, multi-tenant industrial property strategically situated just north of downtown Fort Lauderdale. The property offers easy access to I-95 and is only minutes away from Fort Lauderdale-Hollywood International Airport (FLL), Port Everglades, and Fort Lauderdale Executive Airport (FXE).

“We are excited to continue our partnership with Longpoint,” said Graves. “This lease renewal and expansion underscores the strength of the property and the growing demand for quality industrial space in the region.”

“We are thrilled to expand Halpern’s footprint at Parkway Commerce Center,” Thiel added. “This location allows the tenant to enhance its logistics and supply chain capabilities while continuing to serve its customers effectively.”

Tim Kilkelly of Foundry Commercial represented Halpern’s in the lease agreement.

Parkway Commerce Center features bays starting at over 6,000 square feet, equipped with both dock and grade-level overhead doors, making it an ideal choice for businesses in transportation, logistics, and storage.

Kolo 20 LLC has successfully purchased a .25-acre parcel of vacant land located at 705 SE 22nd Street in Fort Lauderdale from JTL 2110 Trust for $485,000.

Berger Commercial Realty/Corfac International Senior Vice President Joseph P. Byrnes and Sales Associate Jake Michels facilitated the sale within an impressive 30-day timeframe.

Situated just off US-1, the property boasts a prime location in the heart of Fort Lauderdale, offering versatile development opportunities. Kolo 20 LLC plans to utilize the parcel for parking to support nearby businesses, enhancing the area’s infrastructure and accessibility.

“This acquisition reflects the continued commitment to investing in the Fort Lauderdale community and optimizing commercial land parcels for a variety of uses,” said Byrnes.

The sale was conducted as an all-cash transaction, underscoring the strong demand for real estate in this vibrant market.

Manor Investments, LLC has successfully acquired Tarpon Lofts, a prime .29-acre parcel of vacant land located at 400 SE 9th Court in Fort Lauderdale, Florida, from Initech Properties, LLC.

The purchase price for the property was $1,100,000.00.

The transaction was facilitated by Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt, who represented the seller.

Situated just south of the New River and overlooking the new Federal Courthouse property, Tarpon Lofts is poised to become a sought-after residential destination. The site is approved for the development of a six-story, nine-unit luxury loft-style condominium project, which will overlook the picturesque Tarpon River.

Steve Hyatt “The acquisition of Tarpon Lofts reflects a growing trend among buyers seeking a balance of urban living without the confines of larger high-rise buildings,” said Hyatt. “This property offers a unique opportunity to embrace a ‘live, work, play’ lifestyle within walking distance of Downtown Fort Lauderdale and the vibrant Las Olas Boulevard.”

As urban development continues to flourish in Fort Lauderdale, Manor Investments, LLC aims to capitalize on the demand for upscale residential options that combine convenience and luxury. The planned development at Tarpon Lofts will cater to residents who value proximity to the city’s cultural and recreational amenities.

Iris Products, LLC has successfully acquired the industrial property located at 10 SW 23rd Street in Fort Lauderdale from 10 SW 23rd Street, LLC. for the purchase price of $3,740,123.

This transaction was facilitated by Berger Commercial Realty/Corfac International Senior Vice President Jonathan Thiel , Sales Associate Daniel Forman, Senior Vice President Keith R. Graves, CCIM, SIOR, and Vice President Lawrence Oxenberg, who represented the Seller, while Mohamed Farag with LoKation Real Estate represented the Buyer.

“This off-market sale was uniquely timed, allowing both parties to capitalize on the opportunity,” commented Christopher Mayor, Principal with 10 SW 23rd Street, LLC.

The property, which encompasses a total of 13,400 square feet across two buildings, is currently home to multiple industrial tenants. As part of this owner-user sale, Iris Products, LLC plans to continue occupying a portion of the facility, ensuring the property remains a hub for industrial activity in the area.

Chabad of Mid Miami Beach, Inc. has officially closed the purchase of Glades Office Park, a prime office property located at 1515 NW 167th Street in Miami.

The sale, which closed September 20, was brokered by Berger Commercial Realty/Corfac International Senior Vice President Jordan Beck. Beck representing the seller,1515 NW 167 St Holdings, LLC, in the transaction.

The transaction, valued at $15.1 million, marks a significant investment in the South Florida community. Glades Office Park comprises 51,899 square feet of office space across four single-story buildings set on 4.23 acres. The property currently hosts multiple professional office tenants and offers excellent visibility and access from the Palmetto Expressway.

Chabad of Mid Miami Beach plans to expand its existing operations by adding classrooms to the property over time, enhancing educational offerings in the area. This acquisition is particularly notable as the buyer owns the adjacent property to the west, facilitating a seamless integration of their expansion efforts.

Jordan Beck commented, “In a market where office space is not the preferred asset type, we successfully identified the perfect buyer, achieving a record price for this property. The buyer’s long-term vision for the site transcends its current income potential, showcasing the value they see in the property for years to come. We’re excited to see the Jewish footprint continue to grow in South Florida.”

This marks the third transaction between Berger Commercial Realty and 1515 NW 167 St Holdings, LLC, further solidifying their partnership. Both parties look forward to the continued development of this relationship and the positive impact it will have on the community.

SM Sports Holding, LLC, the parent company of high-end exotic and used vehicle dealer Sienna Motors, has successfully acquired the former Pompano Ford Lincoln dealership for $21,950,000.

The sale, brokered by Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt, marks a significant milestone in the ongoing development of the automotive landscape in Pompano Beach.

Located at 2741 North Federal Highway, the 52,120-square-foot dealership sits on a sprawling 7.43 acres and was previously home to Pompano Ford Lincoln, which has since relocated its operations.

The property features extensive facilities for both sales and service of new and used vehicles, making it an ideal acquisition for Sienna Motors.

Claude Senhoreti, a professional race car driver and owner of Sienna Motors, plans to expand operations into this newly acquired site, enhancing their reputation for high-end automotive offerings. In addition to expanding their vehicle sales, Sienna Motors aims to redevelop the surrounding area into additional automotive uses, further revitalizing the neighborhood.

“This property generated considerable interest from both automotive retailers and major development groups seeking to capitalize on the size of the property and its prime location on Federal Highway in NE Broward,” said Steve Hyatt. “The successful transaction is a testament to the potential of the site and the robust demand for automotive real estate in South Florida.”

 

Hyatt has extensive experience in the automotive retail industry and has represented multiple dealership groups with their real estate needs in South Florida and across multiple national markets. Prior to Berger, Hyatt served as a corporate development executive with publicly traded AutoNation (NYSE: AN)  from 1996 to 2008.

Size doesn’t always matter, but when we’re talking about your commercial real estate partner in south Florida, we can assure you that it does.

Working with a company that’s too small might give you a strong sense of personal attention. You know your real estate broker knows your name and understands your goals for buying or selling, but do they have the capacity to provide expert services? Can they invest in the technology that you need? Do they have the right relationships in place locally? Are they managing their own risk effectively, let alone yours?

Working with a company that’s too big can also be a problem. They’ll likely have a wide library of resources and tools as well as relationships, but it’s easy to get lost in such a sprawling network. You don’t want to be one of a thousand clients. How can they really understand you or care about your goals and needs?

Navigating the commercial real estate market in south Florida can be challenging, especially for investors and property buyers looking to maximize their returns. There’s a compelling case for choosing a boutique real estate brokerage.
At Berger Commercial Realty, we feel like we’re exactly the right size. The investors who reach out to us love working with us, and we love working with them, too. We have the privilege of getting to know the people we’re supporting as they navigate our local market. That means a lot to us.

Here’s why size matters, and why working with a boutique brokerage could offer you the edge you need as a commercial real estate investor in south Florida.

Personalized Service and Focused Attention
One of the most significant advantages of working with a boutique real estate brokerage in south Florida is the personalized service clients receive. Unlike larger firms that often handle a vast number of clients simultaneously, boutique brokerages typically focus on a more selective clientele, allowing agents to devote more time and attention to each individual. This means that clients can expect tailored strategies that align closely with their specific needs and preferences, whether they are buying or selling property. Moreover, the intimate setting can lead to the creation of stronger relationships and deeper trust between clients and agents, ensuring that clients feel valued and understood throughout the entire process.

A sense of trust is critical when buying or selling commercial property. You have to know that your agent understands what you’re looking for. Whether you’re looking for a specific investment type or you want to sell at a desirable price point, the relationship you have with your broker will either help or hinder that goals. With a boutique firm, you’ll get the support you need. A larger firm might be dismissive. A smaller shop might not be able to deliver. Choose wisely.

Tailored Strategies for Your Goals
In boutique brokerages, every client is treated as a priority.
We know this from our own experience. If you’re selling a building, we treat it like our own and we work hard to bring in the highest possible sales price and a large pool of potential buyers. If you’re trying to buy a new commercial property, we’ll put ourselves in your shoes and imagine what it feels like to be in search of exactly the right space.
Unlike larger firms, where you might be just another account number, boutique brokerages offer personalized strategies tailored to your unique investment goals. This means your specific needs and objectives will be at the forefront of every transaction and decision. There is not a one-size-fits-all approach for us.

Direct Access to Experts
When you work with a boutique brokerage, you gain direct access to senior agents and brokers who are experts in the south Florida market. Our hands-on approach ensures that you receive informed advice, swift responses, and professional guidance throughout the entire process. You won’t be shuffled around from department to department when you have a question about marketing strategies or closing dates or inspection reports. You’ll know exactly who you’re dealing with, always, and more importantly, they’ll know you.

Deep Local Market Knowledge
One of the standout advantages of working with a boutique real estate brokerage in south Florida is our unparalleled local market expertise. As a smaller, specialized firm, we have a deep-rooted understanding of neighborhood dynamics, property values, and market trends that are unique to the region.

Unlike larger, national real estate chains that can seem attractive for a lot of reasons but may take less of a personal interest in your real estate journey, boutique brokerages offer customized advice and personalized service based on our intimate knowledge of the local areas and the desires of buyers and sellers.

When you work with a boutique brokerage, you’re often working with agents who live in the communities we serve, giving us firsthand insight into the lifestyle, amenities, and hidden gems that appeal to both buyers and sellers. This level of expertise ensures that clients receive the best possible guidance in making informed real estate decisions.

In-depth Understanding of South Florida
How to understand South Florida if you don’t live and work here?
We are a unique real estate market, impacted by a large migration of new residents and businesses into the area, a lot of tourism from around the world, and climate dynamics that often put properties at risk. You need to work with someone who understands what all of that means.

Boutique brokerages specialize in their local markets. In south Florida, this means we have an unparalleled understanding of the region’s commercial real estate dynamics, trends, and opportunities. Our intimate knowledge of neighborhoods, market conditions, and emerging developments can help you make more informed decisions.

Strong Local Connections
We talk a lot about the importance of relationships and connections. We strongly believe that local service is far better than service that comes from a corporate satellite office.

Smaller firms often have stronger connections within the local community. This network can provide you with insider access to off-market properties, early notifications about upcoming listings, and valuable insights that larger firms might overlook. You’ll have an easier time buying or selling or navigating any kind of market when you have a local partnership. This expertise will be a major asset.

Flexibility and Innovation
We’re agile and adaptable. Boutique brokerages are known for flexibility and a unique ability to adapt quickly to market changes. Our smaller size allows us to implement innovative marketing strategies, customize our services to the specific needs of our commercial real estate clients, and pivot when necessary—all to better serve your interests.

We’re also better problem solvers in a boutique real estate brokerage. With a focus on providing exceptional service, boutique brokers are often more willing to go the extra mile to solve problems creatively. Whether it’s negotiating lease terms, finding unique financing solutions, or navigating complex zoning regulations, our resourcefulness can make a significant difference in the outcome of your investment.

Building Long-Term Relationships
Relationships are important to brokers, agents, and buyers and sellers. We’ve said this before. Here’s why it helps in a real estate setting:
• Commitment to Client Success
Boutique brokerages are invested in building long-term relationships with the clients they work with even one time. Our success hinges on your success, which creates a culture of trust, loyalty, and mutual benefit. This relationship-driven approach ensures that we are genuinely committed to helping you achieve your commercial real estate goals.
• High Client Retention and Satisfaction
The personalized service and dedication offered by boutique brokerages often result in higher client satisfactio
n and retention rates. When your broker knows your preferences, history, and future plans, we can provide ongoing support and identify opportunities that align with your long-term vision. It’s always a strong testament to the standard of service we provide when returning customers show up asking for help.

Competitive Advantages of Boutique Firms
What can we deliver that larger or smaller firms cannot?

We can offer niche market experience. By focusing on specific niches within the south Florida commercial real estate market, boutique brokerages develop specialized expertise. This can give you a competitive edge, whether you’re looking for retail spaces, office buildings, industrial properties, or multifamily investments.

There are always cost-effective solutions on our minds. Boutique firms often have lower overhead costs compared to larger brokerages, which can translate into more cost-effective solutions for clients. We can offer competitive commission rates and flexible fee structures that align with your budget and financial objectives.

Choosing to work with a boutique real estate brokerage in south Florida offers numerous advantages, from personalized service and deep local market knowledge to flexibility, innovation, and long-term relationship building. If you’re a commercial real estate investor or property buyer looking to enhance your investment strategy, consider partnering with a boutique brokerage to unlock these benefits.

We’d love to talk about your commercial real estate goals in south Florida and discuss how we can help you get the property you want or sell the one you no longer need. Please contact us at Berger Commercial Realty.