New York investment firm snags Pompano Beach truck repair shop site for $9M
IG Logistics’ 6.5-acre property has two repair shops spanning over 12K sf
Pompano Beach has some new industrial investors.
New York-based IG Logistics, the industrial platform for Imperium Capital, bought a truck terminal and repair shop site at 2407 Hammondville Road for $8.5 million, according to records. The seller is J.T.R. Real Estate Enterprises, a Florida corporation linked to John and Tammy Ragno.
IG Logistics, founded in 2010 by Daniel Glaser and Sam Schneider, used a Delaware LLC for the purchase, records show. A spokesperson for IG Logistics said the deal was completed off-market.
The 6.5-acre site is paved and fenced with two repair shops spanning over 12,000 square feet. It’s positioned between the Florida Turnpike and I-95.
The property last sold for $300,000 in 2000, changing hands from Worldwide Truck Sales to J.T.R. Real Estate. Worldwide Truck Sales was also registered to Tammy Ragno. John Ragno was added to Worldwide Truck Sales in 2003, corporate documents show.
This latest deal adds to Imperium’s holdings in South Florida. In 2014, the company purchased 643-657 Lincoln Road in Miami Beach for $33 million.
The South Florida commercial real estate market has boomed in recent months — and shows no signs of slowing.
This month, Oakbrook, Illinois-based CenterPoint Properties bought a Medley warehouse for $8.6 million, after buying a Pompano Beach distribution facility for $10 million in October.
In December, Rosemurgy Properties sold a Pompano Beach shopping center for $10.1 million. A company managed by Nicolas and Isabella Mattos — the children of Carlos Mattos, founder of car importer Hyundai Colombia Automotriz — bought the retail center at 2350 to 2390 North Federal Highway.
Last November, real estate investment firm Elion Partners bought a 94,000-square-foot distribution center at 3141 Southwest 10th Street in Pompano Beach for $11.65 million.
IG Logistics plans to buy more than $250M of U.S. industrial properties over the next year in markets including Denver, Dallas, Savannah, South Florida, Central Florida, Nashville, Phoenix and Baltimore/Washington, D.C., according to a release.