CBRE Sells Delray Beach Showroom/Office/Warehouse To Real Estate Investor

May 02, 2019 No Comments by

CBRE's Tom O'Loughlin & Larry GenetCBRE Senior Vice Presidents Tom O’Loughlin and Larry Genet represented the buyer in the purchase of a ±58,250 square foot showroom/office/warehouse located at 777 Congress Avenue in Delray Beach.

The buyer, Naples, Florida-based Collier Enterprises, “manages a broad range of businesses engaged in real estate investment and development, agriculture and private equity investments,” according to the company’s website.

New-to-market Collier Enterprises purchased the building, which is situated on 4.9 acres, from seller Seven 77 Congress PTNR LTD, for $7.8 million. The deal closed March 29.

 

“Our team was fortunate to exclusively represent Collier Enterprises,” commented Genet. “They are a first-class organization and I’m excited to the see the property redeveloped.”

The seller was represented by CBRE Executive Vice Presidents Robert Smith and Jeff Kelly, and CBRE First Vice President Kirk Nelson. The team had several backup contracts on the property at the time of closing.

The property is located along the Congress Avenue Redevelopment Corridor and features unobstructed visibility from Interstate 95 as well as Congress Avenue.

 

 

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Industrial / Flex, Industry News, Palm Beach County Industrial / Flex
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