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7041 Commercial LLC, an entity managed by Benjamin J. Genet of Genet Property Group purchased the 48,000-square-foot property from the Saul Strachman Revocable Living Trust and the Judith Strachman Revocable Living Trust for $3,200,000.
The deal closed September 18.
“I have represented the family that owned the Gardens for many years in the disposition of family property,” explained Osborne. “The family has owned the property since 1984, and although it was a hard decision to sell, the timing of the transaction was optimum for the family’s interests.”
The Gardens is a unique mixed-use property comprised of 6 retail and office use buildings, with a large fountain system running through the property.
“We fielded several offers on the property, including some from overseas, but ultimately, we decided to go with Genet, due to his local expertise and and his reputation as a closer,” Osborne added. “We knew that he would close within the timeframe of the contract, even with the added complexities brought about by Hurricane Irma. Mr. Genet and his team were a pleasure to work with and we look forward to our continued relationship with both The Strachman family as a continued advisor and with Mr. Genet, a long-standing client.”
The property is situated on approximately 5 acres, with 735 linear feet of frontage on Commercial Blvd.