Palm Beach County Industrial Building Fetches $41 Million

Dec 20, 2018 No Comments by

An industrial building in Jupiter that serves as the headquarters of Power Systems Manufacturing was sold for $40.8 million.

Florida Land Fund III LLC, managed by Michael Nortman of Jupiter-based Nortman Investments, sold the 189,349-square-foot building at 1440 West Indiantown Road. The buyers were Jupiter Industrial, 4188 Jupiter Industrial, GRC Jupiter Industrial, and BPA Jupiter Industrial – all affiliates of Norfolk, Virginia-based Harbor Group International.

JPMorgan Chase Bank provided a $27.25 million loan to the buyers.

The purchase price equates to $215 per square foot.

The last time the entire property traded was in 2007 for $16.54 million. It was built on the 13.3-acre site in 1968.


Source:  SFBJ


Get the latest industry news and information from CRE-sources delivered right to your email inbox!
And we promise…no more than one email each morning.




Go Ahead...Share!
  • email
  • Print
  • LinkedIn
  • Twitter
  • Facebook
  • Google Bookmarks
  • RSS
  • Add to favorites
Industrial / Flex, Industry News, NA, Palm Beach County Industrial / Flex
No Responses to “Palm Beach County Industrial Building Fetches $41 Million”

Leave a Reply