820,000 Square Feet Of Industrial Space Coming To Pompano Beach

Date: Author: Larry Genet

A Denver-based developer got a $36 million loan to finance construction of more than 800,000 square feet of industrial space in Pompano Beach.

Industrial Property Trust got the loan from JPMorgan Chase Bank to finance construction of an 822,473-square-foot industrial park called Pompano Crossing.

The development would include three industrial buildings, each with approximately 221,000 of space, and a fourth building spanning almost 160,000 square feet.

Industrial Property Trust acquired the 48.8-acre development site for $21.8 million in 2017. The site’s address is 1380, 1300, 1280 and 1250 Northeast 48 Street.

The Denver-based real estate investment trust bought the Pompano Beach property from Pre-Cast Specialties.

The Sun-Sentinel reported that Pre-Cast Specialties, now known as Cianelli Group Holding Inc., closed its concrete fabricating facility in Pompano Beach after selling the property.

 

Source:  The Real Deal

Larry Genet
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Larry W. Genet is a Senior Vice President in the CBRE, Inc. Miami, FL office. As part of the CBRE platform Mr. Genet can provide a wide range of services from local to Fortune 1000 clients including agency and tenant representation, asset or portfolio management, high level logistics, labor and data analytics prior to site selection, project/construction management, capital markets, owner user sales and valuation advisory services. CBRE is the global leader for real estate services worldwide.

Larry 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, land, retail 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. Additionally, Larry controls a portfolio of 13.5 million square feet allowing him to see every deal in the market. This ensures his clients never miss an opportunity. His knowledge of tenants and buyers in the market is top notch and when coupled with his team's vast portfolio, it's a winning combination.

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Larry Genet
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Larry W. Genet is a Senior Vice President in the CBRE, Inc. Miami, FL office. He is a consistent Top 10 producer locally and Top 10% in the Americas Industrial & Listings business line. Co-leading the top multimarket institutional level landlord team, Larry has closed some of the most significant deals in our market selling land, portfolios, one-off buildings and completing critical leases. Clients count on Larry to put their Marketing Action Plans into motion and execute by being a proactive force to fill vaccines and get buildings sold quickly and for top dollar. He and Tom O’Loughlin oversee the largest landlord portfolio in the South Florida market.   

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