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Colliers Facilitates $14.85M Sale of Two Industrial Buildings Located in Fort Lauderdale

Colliers South Florida Investment Services Team represented the seller and buyer in purchasing the two industrial buildings totaling 71,682 square feet

FORT LAUDERDALE, FL |  April 5, 2022 – Colliers closed this week on the sale of two industrial buildings located at 3000 & 3060 SW 2nd Avenue in Fort Lauderdale, FL. Executive Managing Director Mark M. Rubin, Director Bastian Laggerbauer and Financial Analyst Jake Stauber of the Colliers South Florida Investment Services Team, in collaboration with Executive Managing Director Steven Wasserman and Managing Director Erin Byers from the Industrial Services Group represented the seller, Apogee Investment Partners LLC., as well as the buyer, Elion Acquisitions, LLC., in the transaction. The buildings are currently occupied by CTS Engines, an industry-leading turbine engine Maintenance, Repair, and Overhaul (MRO) company, with long-term leases in-place.

“The South Florida industrial market continues to flourish, with most industrial space achieving top leasing rates. Our team firmly believes that the market will continue to thrive, particularly mission-critical assets located in strong markets such as this one. “said Rubin. “Due to the unique nature of the tenant and their industry, identifying the right buyer whose criteria aligned with the business was key.”

The two buildings that were part of the sale included a 60,000 SF repair facility recently renovated in 2019 and a 11,682 SF staging facility which are conjoined by a recently-constructed covered walkway. Combined, both buildings total 71,682 SF and are situated on 2.62 acres of land. The properties are adjacent to Fort Lauderdale Hollywood International Airport, less than 3 miles from Port Everglades and approximately 30 minutes from the Miami International Airport.

The properties are a great addition to Elion Partners’ current portfolio of quality industrial and mission critical distribution assets with flourishing and successful tenants as occupants as well as being located in a strong market.” said Bastian Laggerbauer.

 

Elion Partners is a vertically-integrated industrial specialist and sponsor of the institutional real estate investment vehicles. They are committed to the continual enhancement of firm resources including research, technology and talent, to better serve their investment partners, competitively positioning Elion’s investment vehicles. Elion Partners is minority-owned and have offices in Miami, Seattle, New York and Los Angeles.

 

The Broward County industrial market continues to thrive with low vacancy rates at 4.2 percent, high tenant demand and record absorption. These strong market fundamentals continue to attract investors, and the rising rental rates combined with a a dwindling supply of developable land have heightened investor demand causing industial sales to acheive top dollar pricing.  Mission critical assets like this one with long-term, target industry tenants, are highly sought after by investors and have become more challenging to find in today’s competitive industrial marketplace.


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Bastian Laggerbauer

Director

West Palm Beach

As a Director, my focus is primarily on investment sales and providing the highest level of service to my clients throughout the South Florida region. I am proficient in valuating assets of all property types and implementing financial analysis through Argus Enterprise and Excel. During my tenure at Colliers international, I have been involved in deals exceeding a combined value of $350 Million. I have also engaged in select landlord representation, which has only enhanced my experience and ability to fully valuate and transact both income-producing and distressed assets.

My professional accomplishments include researching and analyzing historic and current data for the retail, office and industrial sectors in each submarket and creating individual, detailed reports for all three sectors in the tri-county area of South Florida.  I also earned my Argus Enterprise certification to further enhance my skills, while earning my Bachelor’s Degree in International Business from Northwood University in 2015 and my Master of Science in International Real Estate from Florida International University in 2016. 

I was born in Munich, Germany, where I have family ties to Colliers International. My family founded the Munich office and I subsequently completed an internship before moving to the USA. My time in the Munich office only made me eager to further my experience in the industry and drove my decision to move to Florida to pursue my degrees, while working in the Palm Beach Gardens office. 

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Mark M. Rubin

Executive Managing Director

Boca Raton

I am an Executive Managing Director at Colliers International and senior member of the South Florida Investment Services Team primarily focused on the sales and leasing of commercial properties in South Florida.  For over 25 years I have successfully worked with clients to meet their commercial real estate needs. Whether buying, selling, leasing or financing real estate assets, I am consultative and client-centric, creatively structuring transactions and strategies to meet my client’s investment objectives. With involvement in over $2.5 billion of transactions across all asset classes, I have worked with investors of all types including institutional investors, high net worth private clients, developers and financial institutions in South Florida.

Prior to joining Colliers, I  served as a Principal of Avison Young and member of its Florida Capital Markets team. Prior to that, I  held senior leadership positions with Newmark Knight Frank, Amerivest Group, Savills Studley and JLL.

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Jake Stauber

Associate | Financial Analyst

Boca Raton

As the Financial Analyst on the Colliers | South Florida Investment Services Team, I focus on the financial analysis, underwriting and preparation of marketing materials for the sales and leasing of investment properties in the South Florida market. I use my extensive comparative market knowledge to help in canvassing the market for qualified buyers.

Prior to joining Colliers, I successfully earned my Bachelor’s Degree in Real Estate from The Florida State University in 2018. Upon graduating, I began my career with CBRE as a Research Analyst in Jacksonville, FL, where I was responsible for the local Office and Industrial market. Concluding my time in North Florida, I was relocated to CBRE’s Miami office, where I was the local research lead for the Miami-Dade, Broward and Palm Beach County Industrial markets. (± 380.0 million square feet).

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