West Palm Beach Industrial Property Trades, Triples Value
Avison Young’s Brian C. de la Fé led a team that represented Boca Raton-based seller 2020 Properties in the disposition to buyer Twenty Lake.
Avison Young’s Brian C. de la Fé led a team that represented Boca Raton-based seller 2020 Properties in the disposition to buyer Twenty Lake.
Zach Levine, Douglas Mandel and Josh Gilbert, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
Dalfen Industrial paid $25,294,000 for the property in July 2020.
The industrial building, fully leased to Aramark, a Fortune 500 company with over 18 billion dollars in annual revenues, was purchased for $135 per square foot and has a new five year lease.
The project will consist of a Class A, two-building, variable-depth multi-tenant industrial development totaling 457,110 square feet situated on 30.78 acres.
The site includes a 25,000-square-foot, 10-door maintenance shop as well as a 3,000-square-foot standalone office building.
He will be responsible for the firm’s Miami, Fort Lauderdale, Boca Raton, and West Palm Beach markets and oversee more than 450 professionals across the South Florida region.
This move comes as the company has quickly expanded its presence nationally and needed a larger office space to accommodate its continued growth. Basis currently has 35 employees, up from just three in December 2020.
Robert Smith, Kirk Nelson, Jeff Kelly, David Murphy and Monica Wonus with CBRE represented the landlord in lease negotiations.
Colliers Executive Vice President Michael Falk and Associate Jonathan Temple represented the landlords, JBL Asset Management and Avenue Property Group, and the tenant, Heritage Flooring, in the deal.
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