Harbert CEO Raymond Harbert with the Lauderdale Lakes Industrial Flex Park at 3435-3699 Northwest 19th Road and 1814-1896 Northwest 38th Avenue (Google Maps, Harbert)
Harbert Management Company paid $65.8 million for a Broward County industrial park.
An affiliate of the Birmingham, Ala.-based expenditure administration organization obtained Lauderdale Lakes Industrial Flex Park, a collection of 11 tiny-bay warehouses spanning approximately 360,000 square ft done in 1973, information and Vizzda exhibit. The offer breaks down to $183 per sq. foot.
Harbert, led by CEO Raymond Harbert, received a $39 million home finance loan from Memphis, Tenn.-centered Pinnacle Lender, records exhibit. The 17-acre site is at 3435-3699 Northwest 19th Street and 1814-1896 Northwest 38th Avenue in Lauderdale Lakes.
Jose Sasson with Axiom Capital Advisors represented the consumer in the off-sector deal, and Jordan Beck with Berger Commercial Realty represented the sellers, two entities managed by Steven Cooperman in North Lauderdale. In 2000, Cooperman’s entities paid $5.8 million for the industrial park, information display.
Sasson reported he attained out to the customer. “I knew these men had been searching for compact bay industrial property when I came across this a single,” he said. “It is really exceptional to discover a 300,000-additionally-square-foot portfolio of contiguous little bay warehouses in South Florida.”
Presenting areas of 5,000 square feet or considerably less, Lauderdale Lakes Industrial Flex Park is 94 p.c occupied with extra than 140 tenants, Sasson reported. Aventura-based Final Mile Holdings is providing leasing, promoting/branding, and strategic oversight of the warehouses, Sasson additional.
The South Florida industrial market place isn’t displaying symptoms of slowing down as the new calendar year unfolds. This month, Berkowitz Enhancement Team paid out $6.7 million for 19 acres in Homestead where by the Coconut Grove-based mostly builder is preparing its initial industrial project in the metropolis. Berkowitz options to create a nearly 400,000-sq.-foot self-storage and distribution middle on the improvement website west of the Homestead-Miami Speedway.
Ares Management paid out $111 million for a progress web page at Countyline Company Park in Hialeah. The Los Angeles-dependent industrial actual estate business is scheduling a 3-setting up intricate on 52 acres on the northwest corner of Northwest 154th Street and West 40th Avenue.
