CBRE Senior Vice President Tom O’Loughlin and First Vice President Larry Genet negotiated the sale of an industrial building located at 2201 Hammondville Road in Pompano Beach, Florida to a new-to-market race team.
Michel Jacober purchased the 13,187-square-foot property, which is situated on .82 acres, for $1,900,000.
The deal closed July 1, 2018.
O’Loughlin and Genet represented the seller, Fitzgibbon Future Investments LLC, in the sale and secured the buyer.
“The sale of this industrial building is a new high watermark for Broward overall sales prices,” commented Genet. “At $144.08 PSF for a metal style building-this sale is a monster price for the owner. We were thrilled he selected our team for this important assignment after a competitive process with other firms.”
According to a CBRE flyer, the 1998-built, high performance auto repair and sales facility includes 4 oversized grade level doors, sealed warehouse floors as well as 4,000 square feet of open plan office space with perimeter offices and a conference room.
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.
