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 47th Avenue, in Opa Locka, Florida, 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.
About Jake Zebede: CBRE Senior Associate Jake Zebede specializes in commercial real estate sales and investments in the South Florida Region. Jake earned his undergraduate degree in business from NYU Stern and a post-graduate degree in Real Estate and Investments from UCLA. Jake grew up living and breathing South Florida real estate, and he has extensive knowledge of both local and national markets. He is fluent in English and Spanish.
About Tom O’Loughlin: CBRE Senior Vice President Tom O’Loughlin specializes in providing brokerage services to owners and occupiers of industrial property in the South Florida region. Tom’s experience incorporates representation for local, regional and national clients, and includes investment sales disposition, owner-occupant acquisitions, tenant and landlord representation. With over 15 years of experience in the real estate, Tom has provided oversight for more than $4B in leasing and sales transactions in South Florida. Tom holds the prestigious SIOR and CCIM designations and is an active member of CBRE’s Industrial Advisory Council—a select national group of professionals gathering and evaluating business intelligence to develop comprehensive business strategies for the company.
About Larry Genet: CBRE Senior Vice President Larry W. Genet has extensive experience in landlord agency, tenant representation, acquisitions, dispositions and property management. As a third-generation commercial real estate professional and South Florida native, Larry boasts deep community ties, an intimate knowledge of the South Florida market and numerous professional contacts. Larry’s leasing expertise of industrial, office and medical properties coupled with his experience in acquisitions and dispositions gives him the ability to represent a myriad of clients in the South Florida market.
