Michael Rauch
Michael Rauch, Senior Managing Partner with CRE Florida Partners and Rauch | Robertson & Co., recently negotiated the sale of an industrial property located at 741 NE 42nd Street in Oakland Park, Florida.
The property, which sold for $1,440,000, or $96 per square foot, is a free-standing industrial building with a 1-acre adjacent outside storage yard. The building features 22’ clear ceiling height and several grade level overhead doors.
“This acquisition represents the ‘up-leg’ purchase of an IRC1031 tax free exchange,” explained Rauch. “We are very pleased to have successfully represented this buyer in both the ‘down-leg’ sale and ‘up-leg’ purchase phases of this tax free exchange.”
Rauch represented the buyer in the transaction.
About CRE Rauch Robertson, a CRE Florida Partners Company: Rauch Robertson & Co. and CRE Florida Partners, LLC, are licensed real estate companies providing Brokerage Services, Investment Services, Private Equity & Trust Services, Corporate Representation, Property & Asset Management, and Valuation & Advisory Services and serving seven counties in Florida including Miami-Dade, Broward, Palm Beach, Martin, St. Lucie, Indian River and Brevard Counties. For more information, please call 954.242.2806 or 561.703.0888.You can also visit us at http://www.crefloridapartners.com.
