CBRE ARRANGES SALE OF PROSPECT PARK IV

CBRE ARRANGES SALE OF PROSPECT PARK IV

Firm tapped to handle leasing for Class A industrial building

Fort Lauderdale, FL – August 19, 2014 – (RealEstateRama) — CBRE arranged the purchase of the former Fort Lauderdale headquarters for GoodRoads, a 68,500-square-foot, Class A, free-standing manufacturing and distribution facility at 3600 NW 54th Street in Fort Lauderdale. KTR Capital Partners (KTR) acquired the property at a price that remains confidential. CBRE represented KTR in the transaction. KTR plans major renovations to the facility and has hired CBRE to rebrand and market the facility for lease.

“This sale represents a growing trend of institutions buying vacant user properties,” said CBRE’s Larry Genet. “KTR acquired a very functional free-standing building that once renovated, will be very well positioned in the market.”

Prospect Park IV features 16,171 square feet of corporate offices and a showroom, 26-foot ceilings, two dock-high doors with pit levelers, four oversized grade-level doors, two van-high doors, 3200 AMPS @ 208 volts 3 phase, a 110-foot secured and fenced truck court and fire sprinklers.

The building is conveniently located only 1.6 miles east of the Commercial Boulevard/Florida Turnpike interchange and only 3.7 miles west of the Commercial Boulevard/I-95 interchange. This location provides quick access to Downtown Fort Lauderdale, Port Everglades, Fort Lauderdale-Hollywood International Airport and Fort Lauderdale Executive Airport.

Larry Genet, Harry Tangalakis and Tom O’Loughlin of CBRE’s Broward industrial brokerage team represented the buyer.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.

About KTR Capital Partners
KTR Capital Partners is a real estate investment, development and operating company focused exclusively on the industrial property sector. Headquartered in New York City with offices in Philadelphia, Chicago, Dallas, Las Vegas, Los Angeles, Miami and Seattle, KTR has an 80 person platform that manages a series of discretionary value-add investment funds that target opportunities throughout major markets in North America. KTR funds currently own a portfolio of approximately 65 million square feet across North America and provide nearly $7.0 billion of investment capacity. For additional information, please visit www.ktrcapital.com

Contact:
Elizabeth Cross
Marketing Director, FL
305.428.6373


Melinda Sherwood
Communications and Media Manager
305.381.6453

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