CBRE Senior Vice President Tom O’Loughlin and First Vice President Larry Genet negotiated the sale of a former trucking and distribution facility located at 2160 Blount Road in Pompano Beach.
LRM Leasing purchased the 13,720-square-foot property, which is situated on 2 acres, for $2,337,500.
The deal closed December 21, 2017.
O’Loughlin and Genet represented the seller, Griffin Industries, LLC, in the sale and secured the buyer.
“Pricing exceeded our client’s expectations and demand for this facility was impressive,” commented O’Loughlin. “There is a serious lack in quality buildings with excess paved land that can be utilized for parking and storage. We received no less than four contracts within two months of launching this building,” O’Loughlin continued. “This is the second sale for a long-standing client in as many years and we look forward to our continued relationship.”
According to a CBRE flyer, the facility includes 6 oversized grade level doors on each side of the building and a single drive in door at the rear of the building, for a total of 13 service doors, as well as 4,600 square feet of office space.
LRM Leasing specializes in the leasing and financing of class 8 tractor trailers and heavy-duty construction equipment. The business will be relocating its South Florida operations from 2705 Burris Road in Davie.
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.
