Posted on December 13, 2016 · Posted in Industrial / Flex, Office

Duke Realty sold five buildings in a Pompano Beach business park for a combined $12.46 million.

The three transactions covered 188,712 square feet of office and industrial space. Duke Realty (NYSE: DRE) sold the properties to Israel Family Park Central, managed by Kenneth Israel in Golden Beach.

These were the three deals that closed Nov. 9:

  • $6.88 million for three industrial buildings totaling 111,800 square feet on 8.5 acres at 3610 to 3890 Park Central Blvd.
  • $3 million for the 41,348-square-foot industrial building on 2.6 acres at 3400 to 3450 Park Central Blvd.
  • $2.58 million for two office buildings totaling 35,564 square feet on 3.4 acres at 2100 and 2200 Park Central Blvd.

All of these buildings were constructed between 1985 and 1985. Even older industrial space in Broward County is trading at a premium due to a low vacancy rate and increasing rents.

This isn’t Israel Family Park Central’s first deal in Pompano Beach. In June, it paid $5.51 million for the buildings at 1100 and 3300 Park Central Blvd.

Duke Realty still owns additional buildings in the business park.

 

Source: SFBJ

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