{"id":1004270813,"date":"2018-10-11T04:26:40","date_gmt":"2018-10-11T12:26:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004270813"},"modified":"2022-12-07T14:39:51","modified_gmt":"2022-12-07T22:39:51","slug":"berkeley-partners-acquires-fl-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/berkeley-partners-acquires-fl-industrial-portfolio\/","title":{"rendered":"Berkeley Partners Acquires FL Industrial Portfolio"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004270873\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Park-Central_sm.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004270873\" data-attachment-id=\"1004270873\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/berkeley-partners-acquires-fl-industrial-portfolio\/dcim100mediadji_0051-jpg\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Park-Central_sm.jpg\" data-orig-size=\"400,310\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;FC330&quot;,&quot;caption&quot;:&quot;DCIM100MEDIADJI_0051.JPG&quot;,&quot;created_timestamp&quot;:&quot;1525094716&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;3.61&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.00043478260869565&quot;,&quot;title&quot;:&quot;DCIM100MEDIADJI_0051.JPG&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"DCIM100MEDIADJI_0051.JPG\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Park Central Business Park &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Park-Central_sm.jpg?w=400\" class=\"wp-image-1004270873 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Park-Central_sm.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Park-Central_sm.jpg 400w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Park-Central_sm.jpg?resize=300,233 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004270873\" class=\"wp-caption-text\">Park Central Business Park<\/p><\/div>\n<p>Berkeley Partners has acquired Park Central Business Park, a three-building industrial portfolio within the Park Central Business Park campus in Pompano Beach, Fla., for $15 million. Institutional Property Advisors, a division of Marcus &amp; Millichap, arranged the deal on behalf of the seller.&nbsp;The purchase marks Berkeley&#8217;s third in the market this year.&nbsp;<\/p>\n<p><em>\u201cSouth Florida represents an attractive opportunity to acquire small industrial assets, given the very low vacancy rates and healthy demand,\u201d<\/em>&nbsp;said Matt Novak, partner at Berkeley Partners, in prepared remarks.<\/p>\n<p>The portfolio comprises 114,391 square feet, with clear heights ranging from 16 to 28 feet. The Business Park is located between Sample and Copans Roads, within close proximity to Interstate 95, the Florida Turnpike and Fort Lauderdale Executive Airport.&nbsp;<\/p>\n<p><em>\u201cThe portfolio\u2019s 100 percent occupancy and balanced tenant base provide new ownership with a stable income stream,\u201d<\/em> said Douglas Mandel, senior managing director at IPA, in a prepared statement. <em>\u201cGiven the limited supply of small industrial units and ongoing demand, we expect continued long-term rent growth in the Pompano Beach submarket.\u201d<\/em><\/p>\n<p>Mandel, along with Associate Tyler Kuhlman, represented the seller in the transaction. In February, Mandel was part of the IPA team that represented Gramercy Property Trust in the <a href=\"https:\/\/www.commercialsearch.com\/news\/gramercy-sells-43m-fl-office-portfolio\/\">$43.2 million disposition of&nbsp;a two-building office portfolio<\/a> at Jacaranda Park of Commerce, located in Plantation, Fla.&nbsp;<\/p>\n<p><em>Image courtesy of&nbsp;Institutional Property Advisors<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The three properties are located within the Park Central Business Park campus in Pompano Beach. Institutional Property Advisors arranged the deal on behalf of the seller.\u00a0<\/p>\n","protected":false},"author":746,"featured_media":1004270873,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,1492,21742],"tags":[34645,32889,35230,34836],"class_list":["post-1004270813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-miami","category-latest","tag-berkeley-partners","tag-douglas-mandel","tag-institutional-property-advisors","tag-marcus-millichap"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Berkeley Partners Acquires FL Industrial Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/berkeley-partners-acquires-fl-industrial-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Berkeley Partners Acquires FL Industrial Portfolio\" \/>\n<meta property=\"og:description\" content=\"The three properties are located within the Park Central Business Park campus in Pompano Beach. Institutional Property Advisors arranged the deal on behalf of the seller.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/berkeley-partners-acquires-fl-industrial-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-11T12:26:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T22:39:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Park-Central_sm.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"310\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/berkeley-partners-acquires-fl-industrial-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/berkeley-partners-acquires-fl-industrial-portfolio\/\",\"name\":\"Berkeley Partners Acquires FL Industrial Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/berkeley-partners-acquires-fl-industrial-portfolio\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/berkeley-partners-acquires-fl-industrial-portfolio\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Park-Central_sm.jpg\",\"datePublished\":\"2018-10-11T12:26:40+00:00\",\"dateModified\":\"2022-12-07T22:39:51+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/berkeley-partners-acquires-fl-industrial-portfolio\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/berkeley-partners-acquires-fl-industrial-portfolio\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/berkeley-partners-acquires-fl-industrial-portfolio\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Park-Central_sm.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Park-Central_sm.jpg\",\"width\":400,\"height\":310,\"caption\":\"Park Central Business Park\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/berkeley-partners-acquires-fl-industrial-portfolio\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Berkeley Partners Acquires FL Industrial Portfolio\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\",\"name\":\"IvyLee Rosario\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"caption\":\"IvyLee Rosario\"},\"description\":\"IvyLee Rosario is a Senior Associate Editor for Commercial Property Executive and Multi-Housing News. She has a background in Journalism and joined the team in 2016. She produces the MHN Daily newsletter, manages byline content, oversees the Research Center for both brands and hosts the Multifamily's Top Marketers podcast. 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