Johnson Controls Building In Jupiter Trades
Marcus & Millichap announced the sale of the Johnson Controls Building, a 20,000-square-foot industrial property located in Jupiter, according to Harrison E. Rein, regional manager of the firm’s Fort Lauderdale office.
The asset sold for $5,400,000.
“The sale of the Johnson Controls Building in Jupiter is indicative of the continued demand for high quality industrial assets, especially in high barrier-to-entry submarkets” said C. Todd Everett, first vice president investment. “Despite elevated interest rates, there is still plenty of in-migrating capital with little or no debt sensitivity.”
Everett, an investment specialist in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a private investor.
Johnson Controls Building is located at 1830 Park Ln S. The property is a single-tenant NNN leased, office/warehouse space, was constructed in 2004, renovated for the current tenant in 2008 and sits on approximately 1.89 Acres in the Jupiter Park of Commerce.
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