(Crystal Proenza is associate editor of RealEstateFlorida.)

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HOLLYWOOD, FL- Hollywood Warehouse Capital Partners LLC haspurchased an 81,100-sf warehouse portfolio, including sevensmall-bay warehouses in Hollywood and a Miramar warehouse/retailcenter, for $6.4 million. Marcus & Millichap investmentspecialist Ryan Nee of the Fort Lauderdale office represented theseller, W&W Properties LLC, and Marcus & Millichapassociate Greg Zeifman of the Miami office secured the buyer.

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"The buyers, who had an existing presence in the immediatemarket, saw value in the fact that the investment was split intoseven different folios, thus providing flexibility for differentexit strategies. As the individual properties are stabilized tomarket rental rates, the buyers plan to sell off the folios touser/owners or small investors," says Zeifman.

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"Both buyers have a long track record of successfully buying andadding value, and managing and operating properties," he tellsGlobeSt.com. Zeifman adds that the deal closed at a 6.8% cap rateon current income, with the entire portfolio being nearly 90%occupied.

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The smaller units range in size between 450 to 1,300 sf with anaverage rental rate of about $13 per sf. The 38,000-sf Miramarproperty, at 3190 South State Road 7, has six retail storefrontsfacing the busy throughway, with warehouse units on either side.The new owners intend to apply for grants through the City ofMiramar's beautification program to aesthetically improve thebuilding.

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