Commercial Property Sells For 75% Increase In Less Than One Year
The property, which was 100% occupied, closed on May 12 for $11 million.
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The property, which was 100% occupied, closed on May 12 for $11 million.
Northeastern investors continue to move their capital to the West Palm Beach office market.
Here are the most popular news headlines this past week on CRE-sources.
The 5,636-square-foot convenience store and gas station is situated on a 2.88-acre parcel.
One of the few remaining vacant parcels in the central business district, the property is primed for office, multifamily, hotel, or mixed-use development totaling more than 500,00 square feet of rentable space.
The price equated to $267 per square foot.
Seneca Town Center is anticipated to be one of the first of many major redevelopment projects throughout the Town of Pembroke Park.
The property features a newly renovated, 14,056-square-foot warehouse with 12 drive-in doors, situated on an oversized lot with substantial frontage on Okeechobee (Route 27).
Mike Davis, Dominic Montazemi, Miguel Alcivar, Adam Spies, Rick Brugge, and Rick Colon of Cushman & Wakefield represented both the seller and buyer in the transaction.
The three-building Class A portfolio is fully leased to six tenants.
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