CBRE Arranges Warehouse Sale in South Florida
The industrial property was acquired for $8.7 million by an e-commerce operator who will be occupying the building.
3001 Center Port Circle. Image courtesy of CBRE.
CBRE has mediated the transaction of a Class A 62,000-square-foot office/warehouse asset in Pompano Beach, Flo. The property was sold by Rexall Sundown to CRSC Commercial Holdings LLC for $8.7 million. The buyer represents Logoup.com, an e-commerce provider of branded products, who will occupy the building. Public records show that Rexall acquired the asset in 2010 for $4.6 million.
Built in 2001, the property is located at 3001 Center Port Circle, close to Interstate 94, between Sample Road and Copans Road. It offers five dock high loading doors and two ramps with oversized, fully motorized doors. According to a CBRE’s Broward County industrial report for the third quarter, e-commerce continues to drive the development of modern distribution space, due to same-day delivery demands.
CBRE’s team included Executive Vice Presidents Jeff Kelly, Robert Smith and First Vice President Kirk Nelson. According to Kelly, there is a growing trend of tenants opting to buy assets as opposed to leasing.
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