Berger Commercial Realty/Corfac International Vice President Jordan Beck represented the buyer, Bridge Logistics Properties, a subsidiary of Bridge Investment Group (NYSE: BRDG), in the purchase of a free-standing warehouse located at 290 SW 14th Ave. in Pompano Beach, Florida.
BLP paid the seller, GFS 14TH AVENUE, LLC, $5,800,000 for the 1975-built, 31,763-square-foot warehouse, which is situated on 2.2 acres of land. The deal closed February 16.
“BLP plans to improve the property by paving the rear yard area and adding fencing and lighting,” explained Beck. “The improvements will significantly enhance the value of the property for a future tenant and provide additional space for truck parking and loading.”
The property is currently occupied by Nefco, an industrial equipment supplier.
Berger Commercial Realty has also been retained to handle the leasing for the property.
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 is a global network comprised of privately held entrepreneurial commercial real estate firms with expertise in office, industrial and retail brokerage, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC has 75 offices in the U.S., Canada, and international markets, including Australia, France, Germany, Ireland, Italy, Japan, Malaysia, Netherlands, Romania, Russia, Singapore, South Korea, Switzerland, Thailand and United Kingdom. CORFAC offices close an average of 10,000 lease and sales transactions valued in excess of $9.0 billion annually, totaling 500 million square feet closed and 65 million square feet managed worldwide.