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Private Buyers Pay $6M for Warehouse Portfolio

HOLLYWOOD, FL- Hollywood Warehouse Capital Partners acquires seven small-bay warehouses plus a Miramar center.

By Crystal Proenza | Updated on April 29, 2008

(Crystal Proenza is associate editor of Real EstateFlorida.)

HOLLYWOOD, FL- Hollywood Warehouse Capital Partners LLC has purchased an 81,100-sf warehouse portfolio, including seven small-bay warehouses in Hollywood and a Miramar warehouse/retail center, for $6.4 million. Marcus & Millichap investment specialist Ryan Nee of the Fort Lauderdale office represented the seller, W&W Properties LLC, and Marcus & Millichap associate Greg Zeifman of the Miami office secured the buyer.

“The buyers, who had an existing presence in the immediate market, saw value in the fact that the investment was split into seven different folios, thus providing flexibility for different exit strategies. As the individual properties are stabilized to market rental rates, the buyers plan to sell off the folios to user/owners or small investors,” says Zeifman.

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