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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.

 

1886 NW 29th St

Weaver Morrison Commercial Real Estate Principal Franklin B. Morrison negotiated the sale of a ±6,000-square-foot small bay warehouse building on behalf of the seller, 1886 Florida Property LP.

After an extensive marketing campaign, the property, located at 1886-1890 NW 29th Street in Oakland Park, sold for $590,000 to Oakland 29 LLC, a small bay warehouse investor. There was no co-broker involved in the transaction.

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.

 

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.

 

3557-3565 nw 9 terrace

Weaver Morrison Commercial Real Estate Principal Franklin B. Morrison negotiated the sale of two ±8,000-square-foot small bay warehouse buildings on behalf of the sellers, Thomas Dunlavey and Daniel & Cecilia Dunlavey.

3557 & 3565 NW 9 TERR, LLC paid $950,000 for the properties, which are located at 3557-3563 and 3565 NW 9th Terrace in Oakland Park.

Mr. 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.