The Matchmaker: RARE CRE's Jamie Zambrana Brings Seller, Buyer Together
Zambrana connected the buyer and seller on the $6.9 million sale of a Deerfield Beach office building.
September 25, 2018 at 01:15 PM
2 minute read
Jamie Zambrana, the co-head of a commercial real estate company, had one client looking to expand and another with the right space.
This was a client, “who had a specific need, looking for a certain asset in a certain area, and I had a client that owned something that matched exactly that description. Therefore, just made the introduction and facilitated the sale between the two parties,” said Zambrana, managing partner of Boca Raton-based RARE CRE.
Polyglass U.S.A. Inc., a roofing and waterproofing systems company, bought the 62,343-square-foot office at 1350 E. Newport Center Drive in Deerfield Beach for $6.9 million from an affiliate of IMC Equity Group, a commercial real estate holding company.
The cash transaction that closed Sept. 4 breaks down to $110 per square foot.
Polyglass is a subsidiary of Mapei Corp., a manufacturer of building supplies such as chemicals, adhesives and sealants. The headquarters of Polyglass and Mapei's U.S. operations are less than a mile from the purchased property southwest of Interstate 95 and Southwest 10th Street.
Polyglass' new building is about 74 percent occupied. Some of the corporate offices are for Youfit Health Clubs and driving safety company Driver's Alert Inc.
Polyglass will keep the tenants and plans to open a laboratory for its roofing business in the vacant space, Zambrana said.
“In the end of the day it was really relationship-driven,” Zambrana said of the off-market deal.
IMC Equity, which sold the building through its affiliate Rainbow Warehouse LLC, initially wasn't looking to sell.
“They got a good offer,” Zambrana said. “They got a lower cost basis, so they took advantage of the value-add that they brought and then market appreciation since their purchase.”
IMC bought this and the building next door at 1400 E. Newport Center Drive for $10 million in October 2015, according to the Broward County property appraiser's office.
Zambrana and Nelson Garcia, who also is RARE CRE managing partner, started the company in 2014.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllFowler White Burnett Opens Jacksonville Office Focused on Transportation Practice
3 minute readHow Much Coverage Do You Really Have? Valuation and Loss Settlement Provisions in Commercial Property Policies
10 minute readThe Importance of 'Speaking Up' Regarding Lease Renewal Deadlines for Commercial Tenants and Landlords
6 minute readMeet the Attorneys—and Little Known Law—Behind $20M Miami Dispute
Trending Stories
- 1Judge Denies Sean Combs Third Bail Bid, Citing Community Safety
- 2Republican FTC Commissioner: 'The Time for Rulemaking by the Biden-Harris FTC Is Over'
- 3NY Appellate Panel Cites Student's Disciplinary History While Sending Negligence Claim Against School District to Trial
- 4A Meta DIG and Its Nvidia Implications
- 5Deception or Coercion? California Supreme Court Grants Review in Jailhouse Confession Case
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250