The Real Deal Miami

KEI Properties sells three industrial buildings in Pompano Beach

Berkeley Partners bought the buildings totaling 114,400 sf
By Amanda Rabines | October 10, 2018 06:00PM

Park Central Business Park and Marcus & Millichap’s Douglas Mandel and Tyler Kuhlman

KEI Properties just sold three industrial buildings within the Park Central Business Park campus in Pompano Beach for $15 million.

Berkeley Partners bought the roughly 114,400-square-foot industrial portfolio at 3600-3665, 3700-3790 and 3800-3890 Park Central Boulevard North for about $130 per square foot.

Its most recent purchase marks the company’s third acquisition in South Florida this year. The San Francisco-based investment firm focuses on acquiring light industrial facilities throughout the United States, according to its website.

Records show KEI Properties bought the three buildings in 2016 from Duke Realty, as part of a larger six-building portfolio sale totaling $14.5 million.

In the most recent sale, Marcus & Millichap’s Douglas Mandel and Tyler Kuhlman represented the seller, and advised the buyer. The three-building portfolio sold 100 percent occupied with asking rents averaging at about $15 per square foot, Mandel said.

Park Central Business Park is a 976,000-square foot, mixed-use development located between Sample Road and Copans Road, just west of the North Andrews Avenue extension.

Bridge Development Partners is also active in Pompano Beach. The firm is close to completing Bridge Point Powerline Road, a 468,000-square-foot industrial park at 1951 North Powerline Road.