CBRE Senior Vice President Tom O’Loughlin, Vice President Larry Genet and Senior Vice President David Albert negotiated the sale of the Gateway Production & Call Center located at 1441 SW 29th Avenue and 2900 Gateway Drive in Pompano Beach.
VICJ CORPORATE PLAZA LLC, represented by Paul Levine with Third Rack Realty, purchased the property for $5,000,000.
O’Loughlin and Genet represented the seller, 2900 GATEWAY DRIVE LLC, in the transaction.
The deal closed July 21.
According to a CBRE flyer for the property, the 50,973-square-foot highly-improved production facility offers a 4.35 per 1,000-square-feet parking ratio and 7,500 square feet of corporate-style office space along the building window line. The building also has heavy power and is well located in Central Broward equidistant from I-95 and the Florida Turnpike.
There is also a freestanding ±15,336-square-foot call center building, which is situated on 5.82 acres, featuring large bullpens, high ceilings and offers a centralized break room and rest rooms as well as a 4.35 per 1,000-square-feet parking ratio.
Businesses continue to show tremendous interest in the Pompano area. In May, O’Loughlin and Genet arranged a 31,463-square-foot lease deal for LKQ, a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles, at Pompano Business Center, located at 2028 NW 25th Ave.in Pompano.
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.
