IPA Closes Industrial Asset Sale In Palm Beach County
The two-building, 74,103-square-foot industrial asset sold for $12.4 million.
The two-building, 74,103-square-foot industrial asset sold for $12.4 million.
Avalon Merrick Park offers a variety of floorplans ranging from studios, one-, two-, and three-bedroom apartments spanning from 456 to 1,530 square feet in size.
Here are the most popular news headlines this past week on CRE-sources.
The property consists of 0.86 acres with T6-80-0 zoning allowing a tremendous development opportunity for up to 800 residential units and 120 hotel rooms.
The new store spans across two floors.
Construction has already begun in Coral Springs at the Pine Ridge Square shopping center. Additional storefronts in Broward and Palm Beach Counties are also planned.
Scheduled to break ground in late 2025, Grover Corlew has already invested more than $10 million in interior renovations at 600 and 700 Hillsboro Boulevard and signed leases for more than 20,000 sq. ft. of office space with several big-name tenants.
Noah Ohayon with CBRE Industrial & Logistics secured the deal on behalf of the buyer.
Black Lion President Robert Rivani has plans to invest an additional $50 million to reimagine the property into ‘Class X’ – an innovative concept that aims to redefine luxury and service standards in the office industry.
JLL Capital Markets arranged the $100,000,000 financing for the nine-industrial-warehouse portfolio.
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