CBRE’s Robert Smith, Kirk Nelson and Jeff Kelly Arrange $18M Sale Of Palm Beach County Industrial Property

Jun 14, 2020 No Comments by

CBRE Executive Vice President Robert Smith, Senior Vice President Kirk Nelson and Executive Vice President Jeffrey Kelly facilitated the $18,350,000 sale of a multi-tenant distribution, manufacturing & assembly facility located in Riviera Beach.

Local private owner Statewide Capital Group sold the 150,852-square-foot warehouse at 1177 W. Blue Heron Blvd. to OZ Realty, an affiliate of Dallas-based Dalfen Industrial.

The transaction closed June 2.

CBRE's Robert Smith, Kirk Nelson, Jeff Kelly, Christian Lee and Jose Lobon

CBRE Vice Chairman Christian Lee and CBRE Executive Vice President José Lobón with CBRE’s National Partners team also provided support in the transaction.

According to its website, Dalfen Industrial is a real estate investment manager focused on industrial properties in key markets throughout the U.S. and Canada.  The company acquires, develops, and manages millions of square feet of premier commercial properties out of their five offices.  Dalfen’s central investment focus is on high quality, strategically located, industrial warehouses, logistic centers, multi-tenant business parks, and manufacturing facilities.  Dalfen Industrial remains one of the most active buyers of industrial, with over $1 billion in real estate transactions completed.

The 1984-built 150,852-square-foot warehouse, which is situated on an 8.5-acre site, was 100% leased at the time of the sale.  Federal Express Ground is the main anchor tenant.

 

“Demand within the South Florida industrial real estate sector remains strong,” commented Nelson.  “E-commerce and logistic services continue to drive the market.”

With over 70 years combined experience as the North and South County brokerage market leaders with CBRE, Inc., Kelly, Smith, and Nelson have completed thousands of sale and lease transactions totaling billions of dollars in total consideration. They consistently achieve production levels high enough to be recognized nationally within CBRE.

 

 

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