Coral Springs Distribution Center Sells

CORAL SPRINGS - Coral Vutec Properties LLC, has recently purchased the AMB Coral Distribution Center in Coral Springs. The purchase price was around $5.3 million, or just under $50 per square foot.
Coral Vutec Properties is a manufacturer of fluorescent light guards and other products.
They are in based in Pompano Beach and bought the 106,600-square-foot building on nine acres at West Sample Road and Coral Ridge Drive from AMB Fund III Mosaic LLC.
This locale is at a Commercial Signalized Corner.
This building was constructed in 1996 and was last sold for $9.5 million in December 2006.
Harry Tangalakis, senior vice president with CB Richard Ellis in Fort Lauderdale,
and Tom O’Laughlin, associate with CBRE’s Fort Lauderdale office, represented the buyer in this transaction. Tangalakis, a consistent top producer, has been involved in excess of 600 lease transactions.
Steve Wasserman and David Wigoda of Colliers Abood Wood-Fay represented the Seller.

HFF secures $25 Million for Longwood Apartments

MIAMI - Holliday Fenoglio Fowler LP have negotiated almost $25 million in financing for Golf Brook and Sabal Park Apartments, two multifamily communities, These 2 Apartment communities have a total of 357 units, in Longwood. Longwood is 12.5 miles north of Orlando.
Holliday Fenoglio Fowler is one of the largest and most successful commercial real estate capital intermediaries in the country. HFF has one of it’s many offices at 2 Alhambra Plaza, in beautiful Coral Gables.
HFF sought out financing on behalf of NTS Development Company to secure the floating-rate loans through Freddie Mac’s “capped ARM” financing program. A $14.63 million loan was made for Golf Brook, and a $9.6 million loan was arranged for Sabal Park. These loans will be serviced by HFF.
Golf Brook Apartments, located at 385 Golf Brook Circle, has 195 units averaging 1,538 square feet each and is currently 92.3% leased.
While Sabal Park Apartments is located at 32 Sabal Park Place, and offers 162 units averaging 1,497 square feet. Sabal Park is approximately 90.7%-occupied.
NNN Signalized Corner of Palm Beach

Happy Fourth of July!