CBRE Sells 19.8 Acre Site Fronting I-95 To First Industrial

Nov 04, 2019 No Comments by

CBRE, Inc. Senior Vice Presidents Tom O’Loughlin and Larry Genet negotiated a sale on behalf of Scozak Realty, Inc. of a ±19.8 acre site with ±32,000 square feet of buildings located at 1001 and 1021 NW 12th Terrace in Pompano Beach.

Senior Vice President David Wigoda and Financial Analyst Sean Kelly of CBRE were also involved in the transaction.

Sean Kelly

Kelly

David Wigoda

Wigoda

Chicago, Illinois-based First Industrial Realty Trust, Inc, a leading Industrial REIT, purchased the site for $19.8 million. Senior Regional Director Chris Willson and Investment Officer Brad Kluver ran the acquisition for First Industrial. No other brokerage firm was involved in the transaction.

The CBRE team previously represented another seller of 8 contiguous acres to the immediate north of this site that First Industrial purchased.

 

“First Industrial has been able to assemble almost 30 acres in the center of Pompano Beach along I-95,” Said Genet, “Our team has 26 buildings and/or land parcels for sale and continue to represent sellers in the market with exceptional results.”

The Property is situated on the west side of I-95, just north of Atlantic Boulevard, and has approx. 1,300 feet of direct frontage along the major South Florida highway Interstate 95. With over 302,000 cars passing per day, this location provides tenants with one of a kind exposure and represents one of South Florida’s top outside storage options. South Florida is one of the most land-constrained industrial markets in the United States, along with Southern California and Northern New Jersey.

 

 

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