CBRE Negotiates Sale Of South Florida Industrial Portfolio In Off-Market Deal

Aug 23, 2020 No Comments by

CBRE Senior Associate Jake Zebede negotiated the sale of three warehouses totaling 102,666 square feet for $11,363,689.00.

The off-market deal closed August 18.

Team members Larry Genet and Tom O’Loughlin, both Senior Vice Presidents with CBRE, provided crucial market intelligence to successfully close the deal.

The properties are located at 13185 Northwest 47th Avenue, 13050 Northwest 47th Avenue, and 4700 Northwest 132nd Street, in Opa Locka, just south of the Opa Locka Executive Airport.

Invincible Boat Company, which was recently purchased by Eagle Tree Capital, is the sole tenant.

The team, which NAIOP South Florida recently recognized as Industrial Broker Team of the Year at its annual Awards of Excellence event, was the only brokerage team involved in the transaction. Mr. Alex Lipworth, who founded Invincible Boats in 2006, was the seller. The buyer, a childhood friend of Genet’s, is an existing client who prefers to remain anonymous.

 

“I am very fortunate to be on this incredible team with unlimited resources, decades of combined market knowledge, and an unrivaled database of buyers,” said Zebede. “Ultimately, it was the rapport I developed with Alex and the quality of the buyer that won us the sale in a competitive off-market environment.”

The team has completed several lease and sale transactions in the area this year.

In early July 2019, the team negotiated the purchase of an ±80,000-square-foot freezer facility located at 650 NE 185th Street in which the buyer paid $13,250,000 in the off-market deal.

In April, the team negotiated the sale of a 76,227-square-foot industrial building for $7,600,000 located at 6501 NW 37th Ave.

The Seller’s primary counsel and co-counsel was Robert Elias, Esq. with The Elias Law Firm, PLLC and Doug Jeffrey Esq. with Law Offices of Douglas J. Jeffrey, P.A., respectively. The Buyer’s counsel was Mark Alhadeff, Esq.

 

 

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Industrial / Flex, Industry News, Miami-Dade County Industrial / Flex
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