Lee & Associates South Florida Principal C. Todd Everett, SIOR Brokers Industrial Property Sale In Port St. Lucie

Lee & Associates South Florida Principal C. Todd Everett, SIOR, brokered the $3.8 million sale of a single-tenant industrial property in Port St. Lucie.

Everett represented seller 8300 LTC Parkway, LLC in the transaction.

The buyer, 83 Hundred LTC, LLC, acquired the property as part of a 1031 Exchange. The transaction closed on Aug. 19, just over 60 days after the property was first listed.

Located at 8300 LTC Parkway, the 19,920-square-foot warehouse was built in 2008 on a 4.82-acre lot with a fully fenced and gated yard, which was a highly sought-after feature among interested buyers. The property includes three drive-in loading doors, 22-foot clear ceilings and 400-amp 3-phase heavy power.

The building is leased to GMS Southeast, Inc., a strong regional tenant and a subsidiary of Gypsum Management & Supply (GMS), a national distributor of home improvement supplies and tools.

“This was a quick listing and closing cycle, which demonstrates the strong demand for this type of high-barrier-to-entry product,” said Everett. “We were able to generate significant buyer interest and close the deal in two months, which reflects the continued strength of the South Florida industrial market.”

Based in the firm’s Deerfield Beach office, Everett focuses on office and industrial investment sales. With nearly three decades of industry experience, Everett brings a breadth of knowledge and a wealth of expertise and deal-making acumen to Lee & Associates South Florida.

“C. Todd Everett once again demonstrated his ability to successfully execute on transactions in a highly competitive market,” said Matthew Rotolante, President of Lee & Associates South Florida. “His experience, relationships and deep market knowledge are invaluable to our clients and reinforce the value our firm provides.”

Sheehan Realty Corporation represented the buyer.