The industrial property located at 1400 Southwest 1st Court in Pompano Beach has been sold for $6,500,000. The asset encompasses a total of 52,500 square feet, resulting in a price per square foot of $123. At the time of the sale, the property was approximately 25% occupied and required significant deferred maintenance to enhance its rental potential. The transaction was completed with a capitalization rate of 1.9%.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $6,500,000
• Square Footage: 52,500
• Price per Square Foot: $123
• Buyer: Joe Goldman
• Seller: Meyer Hornig
• Brokers: Adam H. Klein (AdamhKlein.roigroup) & Elon Gerberg - SVN
• Market: Pompano Beach
• Occupancy at Sale: 25%
• Cap Rate: 1.9%

The transaction was managed by Adam H. Klein and Elon Gerberg, representing both the buyer and the seller as brokers. The deal is noted for its complexity, with both brokers from the ROI Group of SVN Commercial Partners indicating the challenges faced in bringing the property to a sale-ready condition.