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Ron Osborne, Managing Director/Broker of Sperry CGA-RJ Realty, negotiated the sale of an auto repair facility located at 770 N State Road 7 in Plantation, Florida.

Osborne represented both sides of the transaction, including seller, DOXATO LLC, and Buyer, GCDC 2 LLC, in the transaction. Osborne sourced the buyer from Argentina, an entity he had previously worked with.

The property consists of a 17,000-square-foot site with a 4,408 square foot fully functional auto repair facility with 3 overhead doors with room for 7- 8 lifts. The property was formally used as a transmission shop.

The deal closed December 29, 2021.

The total transaction has a value of $1,509,000, or $342 per square foot, which includes the real estate and chattel mortgage on the equipment.

“The Seller approached a neighboring property owner and offered him the property, who is a current client,” explained Osborne. “Knowing that I am the Automotive Property specialist in the area, he referred the owner to me. Our biggest challenge in the sale was tenant’s right of first refusal on the lease, however it was written that the tenant had to match the offer exactly.  Since our Buyer presented an all-cash offer with proof of funds for the purchase price and a very large deposit, that stipulation became a non-issue.”

The deal represented Osborne’s sixth automotive transaction in Broward County in 2021, with all of the sales or leases transactions closing at the top of the market.

Sperry CGA-RJ Realty will be leasing and managing the property.

“The current tenant will be vacating sometime late January and we should be able to deliver the space first of March,” Osborne said.

Offering rent will be $28.00 NNN.

680 NE 42 St, Deerfield

Ron Osborne, Managing Director/Broker of SperryCGA/RJ Realty, negotiated the sale of an industrial property located at 680 NE 42 Street in Deerfield, Florida.

Osborne represented both sides of the transaction, including the Seller, DAMANI INVESTMENTS, LLC and Buyer, ACHIM INVESTMENT GROUP LLC.

The sale includes an 8,342-square-foot building situated on a 17,437-square-foot lot. The 1970-built building features nine 935-square-foot bays was 100% occupied at the time of the sale.

“We received multiple full-price offers from investors and owner/users and ultimately selected a pre-qualified owner/user and closed the deal in under 45 days from Contract,” commented Osborne. “There are multiple owner/users as well as investors looking for 5,000 to 75,000-square-foot facilities.”

Osborne helped obtain an SBA Loan with full approvals within one week of contract, marking the fourth SBA Loan closing in 2021 that he has assisted with. Osborne also helped the Seller complete his 1031 exchange in NC though the local SperryCGA Affiliate office.

the boat center 1000x600

During the 2nd quarter, Ron Osborne, Broker/President of Sperry Commercial/RJ Realty, closed on 3 transactions valued at a total of $4,725,000.

Osborne represented the sellers in each of the deals, which include:

  • The Boat Center, a 12,500-square-foot, single-story retail building situated on 1.06 acres at 1771 S State Road 7 in Fort Lauderdale within the State Road 7 corridor. The property sold for $2,650,000. The buyer accepted the property in “AS IS” condition knowing it needed to have the roof replaced.
  • A car dealership located at 3297 W Oakland Park Blvd in Lauderdale Lakes, which sold for $1,200,000.$37.74 per square foot of land value or $814 per sq.ft. of building area. The sale includes a single-story, 1,473-square-foot retail building situated on 0.73 acres.
  • 510 Building, a 1,250-square-foot office building situated on 33,817 square feet of land, located at 510 S State Road 7 in Plantation, Florida, sold for $875,000. The buyer is buying as long term investment, and plans to redevelop the property in the future.

“The multiple offers we received exemplifies how tight our market is,” commented Osborne.  “There are plenty of buyers out there fighting for quality assets.”

 

Limousines of South Florida is extending its reach in Broward County by purchasing a car dealership in Lauderdale Lakes for $7 million.

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720 N State Road 7

Ron Osborne of RJ Realty completed another auto dealership transaction in the State Road 7 corridor in Plantation.

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RJ Realty is pleased to announce that it has been selected to market for sale Haims Motors Lauderdale Lakes dealership.  The property is located at 2000 N. State Road 7.

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Ron Osborne, Broker/President of RJ Realty, has negotiated the sale of a used car dealership located at 3000 W. Oakland Park Blvd. in Oakland Park.

Osborne represented the Seller, WHD Holdings LLC, an entity managed by David Rivera, in the transaction.

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Ron Osborne, Broker of RJ Realty, is pleased to announce the second closing for 2018.  His client, 4770 MG Holdings LLC, purchased a single tenant building in Ft. Myers, FL.

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Ron Osborne, President and Broker at RJ Realty, announced the sale of a used car lot located at 1080 NW 31 Avenue in unincorporated Broward County, across from the Swap Shop.

Osborne represented the Seller, E-Z Deal Inc., in the $920,000 purchase. The transaction closed on January 5.

This is the second transaction Osborne has closed with this Buyer, which is planning on converting the site to a high-end car wash facility.  The first transaction closed in June 2017.

Osborne, who has completed numerous car lot sales in the last 18 months, explained, “Due to the changes that many of the cities are marking in zoning has caused prices for car lots, and many similar uses, to increase geometrically provided the properties have the proper zoning.  Properties that have the correct uses are selling at a 10% -30% premium over properties that are grandfathered in for the use countywide.”

Osborne believes that this trend will continue as long as the use continues to be removed from the zoning codes along the major arteries.  Today, it is nearly impossible to find a used car lot along State Road 7 south of Sunrise for under $50 per square foot.

The property consists of a 1,970-square-foot auto showroom situated on a 23,000-square-foot lot.

The Buyer, 1080 NW 31 Ave, LLC, was represented by Erica Mizrahi of Keter Estates.

 

Ron Osborne, Broker/President of RJ Realty, has negotiated the sale of The Gardens Mall, located at 7041-7111 W. Commercial Blvd. in Tamarac, Florida.

7041 Commercial LLC, an entity managed by Benjamin J. Genet of Genet Property Group purchased the 48,000-square-foot property from the Saul Strachman Revocable Living Trust and the Judith Strachman Revocable Living Trust for $3,200,000.

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