CBRE Group, Inc., has arranged the sale of Sunrise Business Center, 5001-5035 North Hiatus Road and 5000 Northwest 108th Avenue in Sunrise.
Elion Partners sold the 124,487-square-foot office and warehouse complex, which is currently 95 percent leased, to Cabot Properties for $13 million.
CBRE’s David J. Wigoda, SIOR represented the seller in the transaction. Larry Genet and Tom O’Loughlin partnered with Wigoda as the leasing contacts and listed the property for lease with Cabot post sale.
“Although it attracted many potential buyers, the challenge was finding a buyer that wanted the product type mix of smaller bay office and warehouse spaces and one larger distribution space. Cabot Properties saw value in how the product types complimented each other; a beneficial transaction for all parties involved,” said David Wigoda, senior vice president at CBRE.
Built in the mid-1980s and recently renovated, Sunrise Business Center consists of two connected industrial buildings on a 8.22-acre parcel. At closing, the property was leased to nine tenants in a diverse cross-section of industries and had one vacancy.
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.
