“This was a quick listing and closing cycle, which demonstrates the strong demand for this type of high-barrier-to-entry product,” said Everett. “We were able to generate significant buyer interest and close the deal in two months, which reflects the continued strength of the South Florida industrial market.”
Maesel has stepped into the role in order to elevate the entire team. With a ‘Deliberately Different’ approach to commercial real estate, the company places culture over production not only with the ROI Group but the rest of the company, which features six offices and nearly 50 advisors.
This transaction is one of the highest sales to date for a small-bay industrial investment property in the Lake Worth market.
The properties are currently 90% occupied with short-term leases and rents that lag the market by 60%–80%.
The sale represents the largest industrial land transaction in Martin County since 2023.
Tyler Kuhlman with CBRE Capital Markets in Boca Raton represented the buyer and seller in the transaction.
The property was managed by Benjamin J. Genet of Tamarac-based Genet Property Group.
Groden worked on behalf of the buyer, Jon Samuel of Midtown Group, in the sale from Realty Income. Palm Beach County has plans to occupy the property.
Colliers Executive Vice President Scott Weprin represented the tenant in the lease transaction, while CBRE represented the landlord, Prologis, in the negotiations.
The portfolio was 93% occupied at the time of the sale by a diverse tenant mix across various industries.