216 SW 28th Street

Weaver Morrison Commercial Real Estate Principal Franklin B. Morrison identified a strong all cash buyer within the first 30 days of marketing a ±2,000-square-foot industrial investment building with a long term credit tenant on behalf of the seller, Realty Associates, LLC.

216 SW 28th Street, LLC paid $1,330,000 for the investment property located at 216 SW 28th Street in Fort Lauderdale.

A long term (20+ years) tenant recently signed a new 7-year lease starting January 1, 2021 with 3% annual increases at the property. The building, which is situated on a ±19,186-square-foot lot, features a ±3,200-square-foot free standing covered loading dock and 3-phase electrical power.

Numerous leasehold improvements have been made at this location over the years, including:

  • Electric powered assisted gates
  • Closed circuit security alarm system
  • Fiber optics
  • Newly built retail store and driver break room in warehouse
  • New storm drains in truck yard area
  • Repaved asphalt in all lots
  • New roof and resurfaced loading dock area

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