Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of a 31,593-square-foot warehouse and office property that serves as the corporate headquarters for Allegiance Crane & Equipment in the South Florida community of Pompano Beach.
HFF marketed the property on behalf of the seller, LRG Cross LLC. CenterPoint Properties Trust purchased the asset.
The facility consists of two buildings that comprise 23,853 square feet of warehouse and 7,740 square feet of office space. Allegiance Crane & Equipment, which provides crane rental and rigging services, has occupied the property since 2010 and uses it as its headquarters and warehouse facility to service the construction, energy and infrastructure industries. Situated on 5.01 acres at 777 South Andrews Avenue, the property is strategically located in Pompano Beach, just west of Interstate 95 and three miles east of Florida’s Turnpike, Florida’s two major north-south thoroughfares. Its location lends it easy access to South Florida’s largest metropolitan areas, including Miami, Fort Lauderdale and West Palm Beach.
The HFF investment advisory team representing the seller included Tracey Goo, Maxx Carney, Nick Foster, Jesse Wright and Luis Castillo.
“Investor interest for industrial properties in South Florida continues to be very robust,” Goo said. “We received a number of aggressive offers that incorporated accelerated due diligence and closing timeframes. A material pricing premium is available for industrial assets right now.”
HFF closed more than 1.3 million square feet of South Florida industrial sales last month.
About CenterPoint Properties
CenterPoint Properties is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. CenterPoint’s portfolio includes 58.9 million square feet and 2,386 acres under development in the company’s integrated intermodal industrial parks. For more information on CenterPoint Properties, visitwww.centerpoint.com or follow @centerpointprop on Twitter.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
