Southern Cross Portfolio, a Three Building Warehouse/Office Complex in Fort Lauderdale, sells for $4 million

Colliers South Florida represented the seller in disposing of the portfolio totaling 20,820 square feet in Broward County

FORT LAUDERDALE, FL | April 5, 2022 – As demand for office and industrial investment properties in Broward County continue to climb due to land scarcity and record-high investment activity, Colliers recently closed on the sale of the Southern Cross Portfolio, a three-building warehouse/office complex totaling 20,280 SF in Fort Lauderdale.

Colliers South Florida’s Vice President Robert Listokin represented the sellers, PRF Holdings, LLC and Levy Realty represented the buyer. The property was purchased at market price and was occupied by the sellers at the time. The Sellers plans to relocate to a much larger +/-40,000 sf facility that Listokin sold them in 2021 for $5.8 million.

“The investor was able to outbid several other users that had an interest in the property,” said Listokin. “This transaction is a key indicator of just how strong the industrial market is now as investment properties are becoming harder for buyers and investors to find as well as for tenants that are now paying premium rates.”

The Southern Cross Portfolio includes a 3,314 SF warehouse building, a 7,459 SF office/showroom/storage building, and a 10,047 SF warehouse. PRF Holdings previously utilized the entire complex to manage their growing business. All three buildings are fully air-conditioned, in excellent condition and are adjacent to the Lockhart Stadium and Fort Lauderdale Executive Airport.

PRF Holdings, LLC is the entity that owns Southern Cross Aviation, a worldwide aircraft parts distributor that has been serving the aviation industry for over 30 years.

Population growth, high tenant demand and land scarcity have attracted record-high investment activity in Broward County. In the first quarter of 2022, industrial sales volume reached $378 million across 19 transactions in Broward County. When compared to the first quarter of 2021, industrial sales activity recorded $206 million across 21 transactions. This significant increase in sales volume is reflective of the premium pricing and high investor demand for industrial product in Broward County.

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Robert Listokin

Executive Director

Boca Raton

+1 561 353 3652

561.702.4269

Since 1986, I have worked consistently in the South Florida commercial real estate market. In my 30+ year career, I have leased or sold millions of square feet of commercial property with an aggregate value well in excess of $1 billion. Over the years, I have represented such companies as Humana, Prudential, Nortel, H & R Block, State Teachers Retirement System of Ohio, LNR and the State of Florida, just to name a few.

Prior to reuniting with Colliers International in July 2000, 15 years after my affiliation with their sister firm in Philadelphia, Colliers L & A, I served as Senior Vice President and partner in the Newman Group, and then, in 1990, I established Equivest Properties, Inc. I was responsible for all of the company’s growth and development, including the procurement of agency assignments for office, industrial, retail, and investment property, tenant representation and training of additional salespeople. In July 2000, I merged my company, Equivest Properties, with Colliers International.

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