20,000 SF Industrial Investment Property Changes Hands
Tom Robertson, Senior Managing Partner with CRE Rauch Lupo Robertson, a CRE Florida Partners company, recently closed on the sale of an industrial multi-tenant investment property located at 170 Commerce Road in
Boynton Beach, FL to Highridge Properties LLC.
Although the purchase price has not been disclosed, the 20,352 square foot facility, which was built in 2001, was valued in 2012 at nearly $1.4 million.
“The property’s close proximity to I-95 via Gateway Blvd. certainly added tremendous value to the offering. This property in particular never had a vacancy for more than 60 days and the additional 150,000 square feet we represent for sale and lease within the highly-desirable Commerce Road corridor is no different,” said Robertson.Robertson represented the landlord, Commerce Road Realty Co., Ltd., in the transaction. He also handled the property leasing for the past several years.
“Industrial continues to draw significant interest, specifically well-located product with great access,” added CRE Rauch Lupo Robertson Senior Managing Partner Michael Rauch.
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