Overview

Description

• Irreplaceable Location – Positioned strategically in the Lake Worth submarket, which has experienced some of the highest rental growth year- over-year in the entire county. The continued increase is due to consistent demand from smaller to midsized tenants seeking available space in the corridor. Located in Lake Worth’s Industrial Park of Commerce right off I-95 with direct adjacency to 10th Ave N and only 6 miles from Palm Beach International Airport.

• Owner/User Opportunity – With very limited availability of vacant industrial space below 25,000 sf, this opportunity will fit the needs of countless different users. The property has a healthy blend of significant open warehouse space as well as office space.

• Affluent Area – Average household income nearing $80,000 in a 5-mile radius with population estimates of over 250,000 people. These extremely positive demographics are strongly influenced by location, increased rental growth, and declining vacancy rates.

• Submarket Fundamentals – With little industrial development or supply over the past 18 months, landlords have been able to push rental rates much higher than the metro average as the market becomes tighter. Industrial vacancies in the submarket are hovering near all-time lows, as tenants continue to have difficulty finding available facilities.

• Well-Below Replacement Cost – With the price being $3,518,000 ($154.55/SF) for over 22,700 SF of vacant industrial, this deal is priced well below its replacement cost. The strong quality of the building, coupled with a price point that’s lower than anything currently on the market for something this size, makes it a great opportunity for any Owner/User or Investor looking to expand their portfolio.

USES
• Light Manufacturing Zoning Use
• Warehousing
• Distribution Service
• Last Mile Logistics

Highlights

• Located in the industrial park of commerce
• Immediate access to Interstate-95
• Direct adjacency to 10th Avenue North
• ±8 miles to Florida’s Turnpike
• Approximately 6 miles to Palm Beach Int. Airport
• Ideal location for businesses in distribution sectors

Documents

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