The Pompano Beach trucking fleet leasing and maintenance company purchased the property from John Deere equipment distributor Nortrax Corp of Miline, IL for $975,000 or $84.78 per sf, considered on the high side by area industrial brokers for a 1976 vintage building. Cummings plans to spend an additional $300,000 on improvements.
Southtrust Bank provided financing for 80% of the sale price, according to Steve Wasserman of Colliers International, Fort Lauderdale, FL and Hal Colbert of the firm's Tampa office who negotiated the sale..
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