Former Sam’s Club Warehouse Sale Yields 30% Gain In 15 Months
Bruner Group announced the sale of 7233 N. Seacrest Blvd. in Lake Worth Beach.
The 135,268 square foot warehouse on 15.8 acres sold on February 19 for $17,000,000, a 30% gain in 15 months. The site was bought in November 2019 for $13,070,000 from Sam’s East, Inc.
“In addition to achieving our pre-pandemic sale price expectations, Mr. Bruner was able to secure us a short-term lease with Walmart that significantly decreased our carrying costs. We entertained dozens of lease and sale proposals brought to us by Mr. Bruner and his team. This is the fifth transaction we have completed with Mr. Bruner’s assistance since 2018 and we have obviously been very happy with his performance,” said Derek Montgomery, investor/shareholder of the seller, 7233 Seacrest Boulevard, LLC.
The buyer is Alliance 7233 Seacrest LLC, an affiliate of Pennsylvania based Alliance Partners HSP, an owner/developer of industrial, retail, office, and multifamily properties throughout the United States.
The building features 22’6″-26’8″ clear heights, dock and grade loading, heavy power, 800+ parking, natural gas and is fully air conditioned.
The site is located immediately off I-95 at Hypoluxo Road in Central Palm Beach County and has nearly 1,000 ft of interstate frontage with visibility to 300,000 cars/day.
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