CBRE SELLS MANUFACTURING BUILDING IN FORT LAUDERDALE FOR $1.9 MILLION
Ft. Lauderdale, FL – August 28, 2014 – (RealEstateRama) — CBRE arranged the sale of The Stephan Company headquarters, a 30,000-square-foot manufacturing facility at 1850 West McNab Road in Fort Lauderdale, for $1.9 million. CBRE represented the seller, The Stephan Company, a premier manufacturer and distributor of hair care, skincare and personal care items, which is relocating to Tampa. Ren Kent of Coldwell Banker Commercial NRT represented the buyer, APC Packaging.
“The property sold quickly with multiple offers,” said CBRE’s Tom O’Loughlin. “This was excess corporate real estate so we were able to price it in line with the market. The 110-year-old Stephan Company had outgrown the space and is relocating to a 100,000-square-foot Class A property in Tampa.”
The single-story Stephan Company building was built in 1974 and is a free-standing manufacturing facility featuring ceilings with a 20-foot clearance, four dock-high doors and 42 parking spaces. It is located on 1.53 acres and offers 6,000 square feet of office space. The building is equipped with heavy three-phase power, fire sprinklers throughout and an outside area for tanks. It is conveniently located between the Florida Turnpike and I-95.
Larry Genet, Tom O’Loughlin and Harry Tangalakis of CBRE’s Fort Lauderdale-based industrial team represented the seller.
About CBRE Group, Inc.
CBRE 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 and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE 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 website at www.cbre.com.
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