3240 SE 6th Avenue 501 SE 33rd Street

Todd Weaver_500X500Weaver Morrison Commercial Real Estate Principal Todd H. Weaver negotiated the sale of an office/small bay warehouse portfolio on behalf of the seller, Federal Millwork Corp.

The properties, located at 3240 SE 6th Avenue and 501 SE 33rd Street in Fort Lauderdale, Florida, were sold to an owner/user for $1,475,000.  The buyer, 27th Avenue Enterprises, LLC, was represented by Carol Viteri of Vizcayne Realty in Miami.

The portfolio consists of a ±2,359-square-foot office plus ±1,120-square-feet of mini-storage and ±11,787-square-feet of land, with an adjacent ±3,705-square-foot small bay warehouse and ±5,859-square-feet of land.

The former veterinary office will be utilized as an auto related business.

Rodman Funston Plunkett 5 Building Warehouse Portfolio-aerial

Frank Morrison_500X500Weaver Morrison Commercial Real Estate Principal Franklin B. Morrison negotiated the sale of a ±32,880-square-foot, five (5) building small bay warehouse portfolio on behalf of the seller, AE Hollywood, LLC, an absentee owner from California.

The sale was a classic value-add opportunity with rents at 10-20% below market for small bay warehouses.  The buyer paid $4,300,000 for the five properties located at 5740/5771/5790 Rodman, 5770 Funston and 5791 Plunkett Street in Hollywood.

The buyer, Investment Property Exchange Services, Inc., had dealings with Morrison several years ago on another small bay warehouse complex in Broward and gladly added this purchase to his investment portfolio.

Morrison has achieved great success with the industrial, multi-tenant, small bay warehouse product.  As a result of these efforts, he has assembled a substantial client list that significantly improves the marketing and sale of this product.