Miami, FL – July 25, 2011 – (RealEstateRama) — CB Richard Ellis (CBRE) announced today the sale of 10825 NW 33rd Street, a 8,885-square-foot industrial building, for $1,275,000. The building was purchased from A DE Q Holdings, Inc. by High Property Group, LLC with intent to occupy the space.
“The purchaser, a computer component distributor, needed to expand their South Florida operations immediately,” said Devin White, Vice President with CBRE in the Miami office. “While many transactions in the market have been lateral moves, High Export’s requirement for additional space is just another example of the improving market conditions.”
Built in 1996, the warehouse and distribution facility includes two stories of upscale office space and a single-story warehouse space.
White, with his industrial specialty team of Ronald Marrero and David Albert, together with The Katsikos Group, negotiated the purchase on behalf of High Property Group. The seller was represented by Flagler Real Estate.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.
Contact:
Elizabeth Cross
305.428.6373
elizabeth.cross (at) cbre (dot) com
Lauren Crawford
813.273.8482
lauren.crawford (at) cbre (dot) com
