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.