Redfearn Capital Acquires Palm Beach Industrial Asset
Built in 1985, the 25,000-square-foot property, located at 6780 White Drive in Riviera Beach, is situated on 2-acres.
Built in 1985, the 25,000-square-foot property, located at 6780 White Drive in Riviera Beach, is situated on 2-acres.
To date, Redfearn Capital has closed 55 properties throughout Florida and the Southeast totaling over $600 million of acquisitions.
The acquisitions come after Redfearn Capital’s acquisition in March 2023 of a 138,200-square-foot property situated on 10.8 acres located at 201 Busch Drive, within Imeson Industrial Park in Jacksonville, and an industrial outdoor storage (IOS) facility located at 1595 SW 4th Ave in Delray Beach.
The facility totals 13,790 square feet with almost 2 acres of outdoor storage.
Built in 2003, the park is comprised of 24 small industrial units situated on 5.10 acres featuring 18-foot clear heights and 24-12×12 grade level loading doors.
“These two industrial assets offer an exceptional value-add opportunity in both of these booming industrial markets,” commented Alex Redfearn, Principal and Founder of Redfearn Capital. “Our team was able to secure both properties off market and execute in a challenging economic environment.”
New York-based Angelo, Gordon & Co., L.P. (“Angelo Gordon”) and Delray Beach-based Redfearn Capital formed a new programmatic joint venture to acquire value-add industrial properties throughout Florida with a concentration in South Florida.
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