CBRE Sells 8.4 Acre Site Fronting I-95 To Industrial REIT

CBRE Senior Vice President Larry Genet, Senior Vice President Tom O’Loughlin, Executive Vice President Robert Smith, Executive Vice President Jeff Kelly and First Vice President Kirk Nelson negotiated a sale on behalf of HS-Pompano FL LLC, a 47,000-square-foot metal building on 8.4 acres along I-95 at 1200 NW 15th Street in Pompano Beach.


“The combination of our two teams resulted in no less than eight solid offers for lease and sale,” commented Genet. “This is the second tract of land our team has sold in the last few months with two others pending a sale – all of which will be slated for speculative warehouse developments in order to meet growing tenant demand.”

Chicago Illinoi-based First Industrial Realty Trust, Inc, a leading Industrial REIT, purchased the site any may consider a redevelopment of the site in the future. No other broker was involved in the transaction.

“We owned a two-parcel asset with an older industrial building that was leased to a national company for 15 years,” explained HS-Pompano FL LLC Principal Peter Alevizos. “With excess land and the lease coming up for renewal, we needed a multi-faceted firm to help us find the best course of action. We worked closely with Robert Smith, Larry Genet and their teams for some time trying to determine whether to lease, sell, rezone, develop or pursue a multi option strategy for this project. Throughout the process, they presented multiple leasing and sale offers to consider. In the end, we sold for what we felt was a strong price. We are now seeking a 1031 exchange and other entrepreneurial projects with this and other capital.”

In April of 2004, HS-Pompano FL LLC purchased a portfolio of properties from CBRE. Since that time, Peter Alevizos has been working to create value at the projects culminating in this sale and other newly signed leases.

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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.

Meet The Team

Larry Genet
Senior Vice President

Larry W. Genet is a Senior Vice President in the CBRE, Inc. Miami, FL office. He is a consistent Top 10 producer locally and Top 10% in the Americas Industrial & Listings business line. Co-leading the top multimarket institutional level landlord team, Larry has closed some of the most significant deals in our market selling land, portfolios, one-off buildings and completing critical leases. Clients count on Larry to put their Marketing Action Plans into motion and execute by being a proactive force to fill vaccines and get buildings sold quickly and for top dollar. He and Tom O’Loughlin oversee the largest landlord portfolio in the South Florida market.   

Tom O'Loughlin
Executive Vice President

Tom O’Loughlin has earned a reputation of being one of the top performing brokers in South Florida. As a trusted advisor, Tom has fostered relationships with our market’s top brokers making sure they deliver quality tenants to his client’s buildings. Tom is exceptional at understanding client’s needs, the obstacles they wish to overcome and creating a clear plan to succeed in surpassing all goals. A relative encyclopedia of market knowledge, building owners and businesses, not many brokers know our market better. Tom’s goal is to foster his client relationships and become their trusted advisors while delivering superior results regardless of the size or complexity of the transaction.