Keith Graves, St. George Guardabassi and James Karrat
Berger Commercial Realty/Corfac International Senior Vice Presidents Keith Graves, CCIM and St. George Guardabassi and Sales Associate James Karrat represented seller 1500 South Dixie, LLC in the sale of two industrial buildings located at 1500 S. Dixie Highway and 1610 S Dixie Highway in Pompano Beach, Florida.
Pompano Crown LLC, represented by Barry Katz, with Global Connections Realty, Inc., purchased the buildings for $3,300,000, with plans to renovate and re-lease the currently vacated space. The buildings were previously occupied by Smith Manufacturing, which operated out of both buildings.
The deal closed January 28.
“This transaction marks a renewed interest in Pompano Beach, and specifically this corridor of Dixie Highway,” explained Graves. “Pompano Beach has taken a proactive approach to development and zoning and we look for continued regentrification in the area. Examples include a new multi-family / mixed use complex across the street, which will transform the former salvage yard into a thriving Arts and Industrial area that Pompano Beach is striving for.”
Totaling 34,522 square feet, both buildings are situated on approximately 1.4 acres of land. The 1610 S. Dixie building comprises 25,180 square feet of industrial warehouse space and 2,700 square feet of office space. The building features 8 large hurricane-resistant street level overhead doors, 16' clear height, 2 overhead crane rails, 3 phase heavy electrical power and windows in a portion of the warehouse for natural lighting. The 1500 S. Dixie building, which totals 9,342 square feet, is more of a flex property that includes office and warehouse space that features ten bays and offers complete access on all four sides for parking and loading. The buildings provide unmatched visibility, convenient access to major roadways and provide an excellent value for the buyer.
About Berger Commercial Realty/CORFAC International: Berger Commercial Realty/CORFAC International is a regional, full service commercial real estate firm based in South Florida. Independent and privately owned since its founding in 1998, the firm is a member of CORFAC International, a global network of independently owned commercial real estate brokerage firms. The firm’s property management and brokerage services include tenant/landlord and buyer/seller representation; project and construction management; receiverships; agency/project leasing; capital advisory/investment sales; retail services and more. For more information about Berger Commercial Realty’s brokerage services, CALL 954.358.0900 or visit www.bergercommercial.com.
About CORFAC International: CORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. In association with global affiliates, CORFAC International has 60 North American offices and 20 offices in global markets. Founded in 1989, CORFAC firms completed more than 11,000 lease and sales transactions totaling approximately 500 million square feet of space valued in excess of $8.5 billion in 2015. For more information on the CORFAC network, call 224.257.4400 or visit www.corfac.com.
