CBRE Vice President Larry Genet and CBRE Senior Vice President Tom O’Loughlin negotiated the sale of three Broward County properties.
– 2221 Blount Road LLC paid $875,000 for an 8,332-square-foot standalone industrial building located at 2221 Blount Road in Pompano Beach, Florida from Seller Val Dawson. The deal closed October 30. The building is situated on 25,282-square-feet and was a former cosmetics manufacturing operation.
– Sarasota-based Kadampa Mediation Center Florida, Inc. purchased a two-story 4,502-square-foot free-standing office building located at 4342 E. Tradewinds Avenue in Lauderdale By The Sea, Florida. The 1972-built asset traded for $980,000 on October 19.from Seller Basin Drive LLC, an entity managed by Robert J. Dalton.
– A 3,889-square-foot warehouse building situated on 11,962 square feet of land at 1112 North Flagler Drive in Downtown Fort Lauderdale, Florida is under contract for $650,000 after just one week on the market. The sale is scheduled to close Q4 2016.
Genet and O’Loughlin represented the sellers in the transactions.
“The interest level and ultimate sale of these three unique buildings continues to demonstrate the desire for free-standing assets in Broward County,” commented Genet. “The assets are well-positioned to take advantage of the growing demand for boutique space in the South Florida market,”
“There is perhaps a misconception that CBRE only lends itself to deals of a certain level, but these transactions demonstrate our team’s and the firm’s quickly secure international and all-cash buyers willing to pay top dollar via our global network. Smaller boutique firms cannot match our marketing power and are rarely willing to spend the amount of marketing dollars we consistently put to work on behalf of our clients,” explained O’Loughlin. “Our team touches everything valued from a few hundred thousand dollars to tens of millions.”
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.
