Marcus & Millichap Negotiates Sale Of Riviera Beach Industrial Facility

Marcus & Millichap announced the sale of World Electric, a 25,000-square-foot industrial facility in Riviera Beach.

The asset sold for $4,200,000.

“This trade illustrates the continued demand for industrial properties throughout South Florida,” said Zach Levine, associate. “Well-located industrial assets continue to demonstrate signs of strength, with exceptionally low vacancy rates and increasing rental rates,” Levine continued.

Douglas Mandel, Zach Levine and Josh Gilbert, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, Spottswood PB, LLC, and secured the buyer, Redfearn Capital Acquisitions LLC.

Located at 6780 White Drive, this fully occupied property features a 25,000-square-foot building on a 2.1-acre lot. The facility includes six dock loading bays, one drive-in door, a retail storefront area, office space, and nearly 1.5 acres of outdoor storage. The sole tenant, World Electric, operates under a triple-net lease and holds a significant position within the esteemed Sonepar Group, a distinguished independent family-owned company that leads the global B-to-B distribution of electrical products, solutions, and related services.

 

 

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