Industrial Property in Hallandale Beach Sells for $3 Million
Sale of 22,890 SF industrial property at 1035 NW 3rd St, Hallandale Beach, FL
The industrial property, which was sold for $131 per square foot, was purchased by an undisclosed buyer from the seller, a private investor. The property was listed by brokers from XYZ Commercial Real Estate.
The property is situated on a 1.5-acre lot and features 4 loading docks, 2 drive-in doors, and 24-foot clear ceiling heights. The property is currently 100% leased to a single tenant, a logistics company that uses the space for warehousing and distribution.
According to industry experts, the sale of this property is indicative of the strong demand for industrial properties in South Florida. The region has seen a surge in demand for industrial space due to the growth of e-commerce and the need for last-mile delivery facilities.
The buyer, who remains anonymous, is likely a real estate investor looking to capitalize on the strong demand for industrial properties in the area. The seller, a private investor, likely saw an opportunity to cash in on the strong market conditions and achieve a favorable return on investment.
The brokers from XYZ Commercial Real Estate who represented the seller in the transaction have a strong track record in the South Florida industrial market. They have completed several high-profile transactions in the area, including the sale of a 50,000 SF warehouse in Miami for $6.5 million in 2020.
Overall, the sale of this industrial property in Hallandale Beach is a testament to the strength of the South Florida industrial market and the continued demand for industrial properties in the region.