TerraCap Management Acquires 71K SF Industrial Property In Boca Raton
The property was 100% occupied at the time of the sale.
The property was 100% occupied at the time of the sale.
The company, which distributes engine components and supports aviation supply chains, is relocating from Pompano Beach.
The site has long attracted developer interest because of its scale, location and proximity to transit.
The 2.77-acre site currently includes about 18,740 square feet of aging industrial space.
The development plans include building an additional 392,000 square feet for a total of three planned state-of-the-art industrial buildings.
The move, the Chicago-based firm says, reflects the evolution of its business and operating platform after 25 years.
The assets total 197,608 square feet.
The South Florida-based commercial real estate investment firm is targeting high-quality Southeast U.S. acquisitions.
The property, purchased for over $8.5 million, consists of two buildings totaling 35,782 square feet on 3.25 acres.
The portfolio includes 11 buildings of single-story, highly functional small-bay industrial with 150 grade-level loading doors. The portfolio, which was completely renovated in 2023, is 98% leased to a diverse array of 62 tenants.
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