CBRE Arranges Sale Of Historic Downtown Delray Beach Industrial Property

CBRE has arranged the $5.5 million sale of Downtown Delray Industrial, a 13,250-square-foot warehouse, located at 190 SE 2nd Ave. in Delray Beach.

CBRE’s Tyler Kuhlman, Luke Hansen and C’jon Armstead represented the seller, Merritt Transfer & Storage, in the transaction, which closed July 16. The buyer was Glensen Delray D4.

The 0.47-acre property is in the heart of downtown Delray Beach and is among the few remaining infill industrial buildings in the city’s central business district. Built in 1947 and located two blocks from Atlantic Avenue, the asset offers a rare combination of industrial functionality and walkable access to the city’s retail, dining, and residential amenities. The sale achieved a premium price per square foot, reflecting the limited supply of industrial product in the downtown core.

“Assets with this kind of history rarely come to market,” said Kuhlman, First Vice President at CBRE.

 

“This building traded for the first time in more than 80 years after remaining under the ownership of the family that originally developed it for their business,” said Armstead, Associate at CBRE. “The strong pricing reflects both the property’s location and continued demand for urban core industrial assets.”

The transaction highlights continued investor demand for infill industrial assets in South Florida’s urban cores, where available industrial inventory remains limited and redevelopment opportunities are increasingly scarce.