Tuesday, March 10, 2015

Cushman & Wakefield Brokers Sale of Congress Industrial Square in Delray Beach, FL


Congress Industrial Square, Delray Beach, FL


Matthew McAllister
DELRAY BEACH, FL - Cushman & Wakefield announced today that is has brokered the sale of Congress Industrial Square, a ±25,000-square-foot showroom/warehouse in Delray Beach, Florida.

Senior Director Christopher Thomson, Associate Director Matthew McAllister, Executive Director Chris Metzger, and Executive Director Rick Etner represented Congress Industrial Square, LLC in the sale of the multi-tenant industrial space to Delray Business Center, LLC. 

The transaction was valued at $2,725,000.

Congress Industrial Square was built in 2000 and is located at 125 North Congress Avenue. It features 24’ clear ceiling heights, one dock-high door, 18 grade-level doors and 90 parking spaces. The facility is 100-percent leased and offers immediate access to Interstate 95 and Atlantic Avenue.


Christopher Thomson
The property is located in the Palm Beach industrial market which has been buoyed recently by increased seaport activity. As users clamor to capitalize on this economic upswing, the demand for assets like Congress Industrial Square has increased.

“Activity at the ports increased, providing new opportunities for the region’s many logistics and trade related firms,” reads Cushman & Wakefield’s Q4 2014 Palm Beach Industrial MarketBeat Report.

“Proximity to mass distribution markets, ports, and freeways add to the heightened demand … however, land is in short supply and very expensive, so there is a very high barrier of entry for new development projects.”

The dearth of available product has not deterred investors. They have simply discovered other avenues into the market.

“Pricing has pushed some investors out of the local distribution market,” explained Thomson. “They’re still looking to place money, though, and flex product is currently a very viable and desirable option.”

For a complete copy of the company’s news release, please contact:

Christopher Thomson, SIOR
Senior Director
(561) 227-2020
christopher.thomson@cushwake.com

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