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Elon Gerberg and Adam Klein represented both the seller and the buyer in the sale of Planet Fitness Plaza, a 46,034 SF fitness-anchored retail center on 5.34 acres at 1400-1450 S Powerline Rd in Pompano Beach, FL. We positioned the property for a broad audience and ran a targeted marketing campaign that drew interest from private, professional and institutional capital across the globe, giving our client a deep pool of qualified buyers.

That depth of demand created real competitive tension. Based on the competition, the eventual buyer improved on its own initial offer by $500,000 to secure the deal, and after weighing pricing, certainty and terms, we ultimately awarded the property to a REIT. Planet Fitness Plaza sold for $16,400,000, or $356 per square foot, a record price per square foot for the submarket. The 6.35% cap rate came in significantly below the cost of debt at the time, a clear sign of how highly buyers valued the asset. This transaction underscores our ability to attract institutional capital and deliver record pricing for our clients.

Elon Gerberg and Adam Klein successfully orchestrated the dual represented disposition of Village Plaza, a 65,050 SF retail center in Margate, FL, achieving a sub 5% in-place cap rate despite a challenging high interest rate environment. By implementing a targeted, multi channel marketing process, we generated 250+ registered buyers and 10+ competitive offers, ultimately awarding the deal to regional investor Todd Nepola of Current Capital Group, who committed a substantial non refundable deposit. We managed the timeline and closing requirements for both the seller and the buyer to deliver a smooth, on-time closing.

Adam Klein and Elon Gerberg sold Aventura Industrial, a roughly 35,000 SF, two-building warehouse and industrial flex complex at 2655 and 2660 NE 189th St in Aventura, Florida. The buildings date to 1967 and 1971, and one family had owned them since 1986. Industrial land in Miami-Dade County is scarce, with new construction adding only about 1% to existing inventory, so we marketed the complex around its stable in-place income, its site size and that lack of new supply.

Our call-for-offers process drew more than 10 offers from industrial investors. The complex sold for $10.75 million, or $307 per square foot, at a 4.2% cap rate, on a compressed closing timeline. The buyer was an entity co-managed by Sunny Isles Beach investor Yakov Cohen. The Real Deal covered the sale, which beat the $240 per square foot that led Miami-Dade industrial sales the prior quarter.

Adam Klein and Elon Gerberg sold Miami Beach Executive Office Suites, a 17,228 SF multi-tenant office building at 960 Arthur Godfrey Road at the entrance to Miami Beach, Florida. We represented both the seller, Yair Gretah, and the buyer, The Haimov Group.

Recent improvements, a medical and service tenant base, and nearby projects like 42 Pine and the Mount Sinai Medical Center expansion drew investors and developers. We put the building under contract within 10 days of launch with more than 5 competitive offers. It sold in November 2024 for $8,025,000, more than $465 per square foot. CRE-sources covered the sale.