CBRE Arranges Sale Of Industrial Property In Lake Worth Beach
This transaction is one of the highest sales to date for a small-bay industrial investment property in the Lake Worth market.
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.
Colliers’ Derek Baker, Gary A. Gottlieb, and Marc Fechter will lead leasing opportunities.
EML Realty Partners owns over 50 other buildings throughout the state of Florida and multiple industrial assets located within Jupiter Commerce Park.
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