Levy Realty Advisors, LLC President/Broker Alan Levy and Broker Associate Jan Stolow, the exclusive agents for the owners of the Lauderdale Lakes Industrial Park, JV, represented the Buyer in the sale and purchase of the last of the 24 buildings in the Lauderdale Lakes Industrial Park located at 2696 NW 31st Avenue in Lauderdale Lakes, Florida.
The Park consists of approximately 530,000 square feet of small and midsize dock height and street level office / warehouse bays situated on approximately 30 acres of land within a designated Foreign Trade Zone and is comprised of one of the most diverse mixtures and configurations of warehouse units of any industrial park in Broward County.
The $3,250,000 acquisition of Building 24, which totals 16,135 square feet, closed on June 28 and marked the completion of a major accomplishment which began 25 years ago by Levy and Stolow with the sale and purchase of a 348,000 square foot, 14 building assemblage within the Park on December 8, 1997. The company has been managing and leasing the park since then under the leadership of Jan Stolow.
“To complete an assemblage of this magnitude required 6 separate transactions to acquire each and every building in the Park, spanning 25 years of dedication as we slowly carefully and patiently waited until the right time for each owner to agree to sell their property to our investors. Needless to say we are extremely proud of our accomplishment,” commented Levy.
Located 2.5 miles east of Florida’s Turnpike and 1.5 miles west of I-95, just to the south of Oakland Park Blvd, the central location of the industrial park has been a major draw for tenants seeking an office/warehouse in the heart of Broward County. Additionally, Jan Stolow, the Director of Central Broward County for Property Management and Leasing at Levy Realty Advisors, LLC., worked diligently with the City of Lauderdale Lakes and secured approximately $320,000.00 of funding from the Community Redevelopment Agency (CRA) in order to upgrade the properties, including enhanced landscaping, painting, hurricane impact windows and doors, new roofs, asphalt, exterior lighting, and a fully secured iron fence enclosure around the entire Industrial Park with security gates.
“Over the last 25 years, Lauderdale Lakes Industrial Park has grown to new heights as we have strived to provide a more beautiful, cleaner, safer working environment for our tenants to do business and succeed,” stated Stolow.