The Transaction Marks The Highest Negotiated Price For An Industrial Asset Within Newport Center
DEERFIELD BEACH, FL – May 5, 2020
Rauch Robertson & Co. Senior Vice President Dan Casey, CCIM represented the seller in the sale of a 12,184-square-foot office/warehouse facility located at 1358 E. Newport Center Drive in Deerfield Beach, Florida.
The building traded at $2,314,960 or $190 per square foot, marking the highest negotiated price per square foot for an industrial property in Newport Center and the firm’s second record breaking sale in the park in the past five months.
In November 2019, Managing Partners Michael Rauch and Tom Robertson represented the seller in the sale of a 15,268-square-foot office/showroom/warehouse facility within the park. The building traded at $2,800,000, or $183 per square foot.
Newport Center is a large, master-planned professional business park located 5 minutes from Interstate I-95, just south of SW 10th Street, with easy access to the Sawgrass Expressway. The park features two hotels, a daycare center, and is home to many notable businesses including JPMorgan Chase, Hoerbiger Compressor Technology, Quest Diagnostics, Sandvik Corporation, HYLA USA, and the Mapei Corporation.
“Businesses recognize the convenience and prestige that a Newport Center address provides, and this is why we’re seeing property values continue to rise,” explained Casey.
Rauch, Robertson & Co. is seeking leasing and investment sales professionals for its growing commercial real estate expansion in Miami-Dade, Broward and Palm Beach counties. Multiple positions are available within these and other Florida markets that offer a unique ground floor career opportunity to work closely with the firm’s Founders Tom Robertson and Michael Rauch to move their vision for the brand forward. Commission and benefits are commensurate with experience. A Florida Real Estate License and Commercial Real Estate experience are required. Only qualified candidates should apply by forwarding resumes to email@example.com.
Rauch Robertson & Co. is a commercial real estate company providing Brokerage Services, Investment Services, Private Equity & Trust Services, Corporate Representation, Property & Asset Management, and Valuation & Advisory Services serving Broward, Palm Beach, Martin, St. Lucie, Indian River and Brevard Counties. For more information, please call 954-242-2806 or 561.703.0888 or visit http://www.crefloridapartners.com.