(To read more on the industrial market, click here.)

SUNRISE, FL-Weston Sunrise Investors LLC has acquired Broward Lakes, a 137,372-sf flex/industrial facility at 955-1011 Shotgun Rd., for nearly $12.2 million, or $88.45 per sf. Providence, RI-based Presidential Properties Group Ltd. was the seller. The locally based group plans to upgrade the asset and convert it to warehouse condo units.

J. Scott O’Donnell, first VP, and Dominic F. Montazemi, an associate in the Boca Raton private client group of CB Richard Ellis, were the lead brokers. JC Conte and Bill Rypl of CBRE’s industrial properties division, who handled leasing in the building for Presidential, also assisted in its disposition.

The property was constructed in the late 1980s and was 80% leased at the time of the sale. It contains both dock-high and drive-in loading capabilities. The buyer owns neighboring property, according to O’Donnell, which facilitates its ability to address “certain cross-easement issues,” related to the facility.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.