Riviera Beach Warehouse Sells For More Than Double Its 2018 Price

An industrial property in Riviera Beach has changed hands for $26.59 million, marking a significant gain from its last sale just six years ago.

The four-building complex, known as Fairfax Industrial Park, spans 125,452 square feet and is located at 1700-2060 Avenue L, not far from the Port of Palm Beach.

The seller, L.Fax LLC sold the property to 1700 Avenue L Riviera Beach LLC, an entity tied to West Palm Beach’s Aptos Management A.

The sale price breaks down to approximately $212 per square foot.

Back in 2018, the property sold for $10.03 million.

The sharp increase in value highlights the strong demand and rising rental rates in Palm Beach County’s industrial market. Fairfax Industrial Park, originally built in 1971 on a five-acre site, features warehouse spaces with ceiling heights between 16 and 19 feet.

According to a recent report by Colliers, the industrial vacancy rate in Palm Beach County ticked up to 6.7% in Q1 2025, compared to 5% the year before. At the same time, average asking rents rose to $18.23 per square foot from $17.92 — a trend that underscores the continuing appeal of industrial assets in the region.

 

Source:  SFBJ