Tom Robertson and Michael Rauch
Michael Rauch and Tom Robertson, Senior Managing Partners with CRE Florida Partners, Rauch Robertson & Co., represented the owner, The General Electric Company (GE), in the sale of a laboratory/ manufacturing building located at 3041 Gateway Drive in Pompano Beach, Florida.
The property sold for $775,000 on a 6.9% capitalization rate.
The 10,068-square-foot laboratory/manufacturing building has been owned and operated by GE since 2000, when it developed the proprietary processes for manufacturing of synthetic diamonds.
The tenant, Sandvik Inc., which purchased the proprietary process from GE through a series of acquisitions, is a world leader in the development and production of synthetic diamond and cubic boron nitride products for industrial applications such as cutting, machining, oil and gas drilling, grinding, rock drilling and wire drawing. Sandvik is a publically-traded International company with over 47,000 employees worldwide.
“This is the fourth asset in South Florida that we have exclusively represented for GE,” commented Robertson. “Industrial investment inventory is low in South Florida and CRE Florida Partners is currently working with several buyers looking for similar properties in Broward and Palm Beach counties.”
"Identifying quality industrial/distribution investment properties in South Florida continues to be a challenge and we are continuously sourcing these properties for our clients," added Rauch.
The brokerage company is also 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, which offer a unique ground floor career opportunity to work closely with the firms Founder’s Tom Robertson and Michael Rauch to move their vision for the CRE Florida Partners 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 firstname.lastname@example.org.
About CRE Rauch Robertson, a CRE Florida Partners Company: Rauch Robertson & Co. and CRE Florida Partners, LLC, are licensed real estate companies providing Brokerage Services, Investment Services, Private Equity & Trust Services, Corporate Representation, Property & Asset Management, and Valuation & Advisory Services and serving seven counties in Florida including Miami-Dade, Broward, Palm Beach, Martin, St. Lucie, Indian River and Brevard Counties. For more information, please call 954.242.2806 or 561.703.0888.You can also visit us at http://www.crefloridapartners.com.