Cushman & Wakefield arranged the sale of an 81.1-acre parcel of land zoned for up to 1 million square feet of industrial development located in Jupiter.
The final sale price was $63,325,000.
Mike Davis, Rick Brugge, Rick Colon and Dominic Montazemi of Cushman & Wakefield represented the seller in the transaction with support from Zachary Eicholtz and Brooke Tulley.
“This land parcel provided a generational opportunity with long-term cash flow and future upside via development,” Davis said.
Located at Palm Beach Park of Commerce, the property is 100% leased to Insurance Auto Auction, a globally recognized company in the auto-salvage industry duopoly, and will serve as a mission critical location in the tenant’s South Florida operations.
The property is located less than one mile from the Bee-Line Hwy, providing exceptional access throughout Palm Beach County, Treasure Coast, and greater South Florida via Interstate 95 and the Florida Turnpike.
“Investor interest was robust for this unique property,” added Montazemi.
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