Boynton Beach Warehouses Trade For $43 Million

New York-based DRA Advisors has expanded its South Florida industrial holdings with the $43 million purchase of two warehouse properties in Boynton Beach.

The assets, totaling 197,608 square feet at 1200 and 1210 SW 35th Avenue, were sold by entities tied to Venture One Real Estate, which is based in Rosemont, Illinois. The buyer took title through Ranger II Urban Logistics Boynton Beach LLC, an affiliate of DRA Advisors.

Bank of America provided $35.7 million in financing as part of a broader loan package that also included out-of-state properties.

The sale worked out to roughly $218 per square foot. The same properties traded for $36.25 million in 2024.

The 12-acre site includes buildings completed in phases between 2000 and 2019, with clear heights ranging from 30 to 36 feet, making them competitive for modern warehouse users.

Palm Beach County’s industrial market has remained relatively firm, although vacancy has ticked up slightly. Colliers reported a 6.8 percent industrial vacancy rate in the fourth quarter, compared with 6.5 percent a year earlier. At the same time, average asking warehouse rents edged up to $15.71 per square foot from $15.64, showing that pricing has continued to move higher even as availability has increased modestly.