DORAL
WAREHOUSE SOLD FOR OVER $1M
Location: 1510 NW 79th Ave.
Seller: Conosur Investments, represented by Fernando J. Carpaneto, manager.
Buyer: Edgewater 1510, represented by Ulysses Vazquez, managing member.
Price: $1,023,500 or $143.29 per square foot, based on 7,143 square feet of building, or $55.03 per square foot, based on 18,600 square feet of land.
Total assessed value (2007): $771,226 or $107.97 per square foot of building area or $41.46 per square foot of total land area.
Financing: $807,500 provided by U.S. Century Bank.
The two-story warehouse was built in 1981 on 0.43 acre. A previously reported sale was in January 2005 for $740,000.
MEDLEY
INDUSTRIAL BUILDING SOLD FOR $6.5M
Location: 7580-90 N.W. 74th Ave.
Seller: Palmetto 4 Bay, represented by Peter Austen, general partner.
Buyer: Cabot II -- FL2W03 LLC, affiliated with Cabot Industrial Holdings, represented by Patrick Ryan, senior vice president.
Price: $6.5 million or $108.75 per square foot, based on 59,772 square feet of building area, or $49.09 per square foot, based on 132,422 square feet of total land area.
Total assessed value (2007): $3,297,263 or $55.16 per square foot of building area or $24.90 per square foot of total land area.
Financing: No financing reported.
The industrial building was constructed in 1981 on 3.04 acres. A previously reported sale was in December 1979 for $330,000 (land only).
WESTON
MIXED-USE BUILDING SOLD FOR NEAR $4.25M
Location: 1751 Bonaventure Blvd.
Seller: Three Village Road Inc., represented by Bret J. Boyd, president.
Buyer: Walgreen Co., represented by Wilmot Rein, director.
Price: $4,248,000 or $254.16 per square foot, based on 16,714 square feet of building area, or $55.56 per square foot, based on 76,462 square feet of total land area.
Total assessed value (2007): $3,928,440 or $235.04 per square foot of building area or $51.38 per square foot of total land area.
Financing: No financing reported.
The one-story, mixed-use building was constructed in 1998 on 1.76 acres. A previously reported sale was in October 1996 for $869,800 (land only).
FORT LAUDERDALE
OFFICE BUILDING SOLD FOR NEARLY $1.67M
Location: 2919 E. Commercial Blvd.
Seller: Coral Ridge Properties, represented by Stacey Morabito, managing member.
Buyer: 2919 E. Commercial, LLC, represented by Stephen Rakusin, managing member.
Price: $1,665,000 or $258.46 per square foot on 6,442 square feet of building.
Total assessed value (2007): $783,640 or $121.65 per square foot of building.
Financing: $1.44 million provided by Stonegate Bank.
The two-story office building was constructed in 1971. Previously reported sales were in July 2000 for $625,000 and in March 1996 for $450,000.
HOLLYWOOD
WAREHOUSE SOLD FOR $790,000
Location: 2116 Sherman St.
Seller: James P. Colie.
Buyer: 2116 Sherman Inc., represented by Gaetano Protano, president.
Price: $790,000 or $108.85 per square foot, based on 7,258 square feet of building.
Total assessed value (2007): $519,870 or $71.63 per square foot of building area.
Financing: $500,000 provided by Bank of America.
The two-story warehouse was built in 1984. A previously reported sale was in June 1989 for $315,000.
MEDLEY
INDUSTRIAL BUILDING SOLD FOR $6M
Location: 11200 NW S. River Dr.
Seller: Zack Investments, represented by Jorge A. Zacarias and Ximena P. Zacarias, managers.
Buyer: Grace Lands of South Florida, represented by Jay M. Yu, president.
Price: $6 million or $112.29 per square foot, on 53,435 square feet of building, or $36.93 per square foot, on 162,483 square feet of land.
Total assessed value (2007): $3,900,121 or $72.99 per square foot of building area or $24.00 per square foot of total land area.
Financing: $4.5 million provided by Mercantile Bank.
The one-story industrial building was constructed in 2005 on 3.73 acres. A previously reported sale was in January 2003 for $1 million (land only).
For more, see www.irr.com.
