November 7, 2019
Avison Young’s Florida Capital Markets Group has arranged the $7.8 million sale of Central Business Park, a two-building, multi-tenant industrial portfolio in Margate.
Located at 1690 and 1700 Banks Rd., the 59,687-square-foot property is fully leased to a tenant roster that includes Jacobs Telecommunications, a multi-national corporation with over $15 billion in revenue.
David Duckworth, John Crotty, Michael Fay, Tom Viscount, Brian de la Fé, Berkley Bloodworth and Emily Brais of Avison Young represented the sellers, Steven Chess LLC, and Robert Chess LLC. The buyer was Center Business Park, LLC.
“We secured a local private investor looking to capitalize on Central Business Park’s stable cash flow at full occupancy,” said Duckworth. “At a strong per-square-foot price of $131, the sale represents the trend of investors continuing to eye stabilized industrial assets in South Florida.”
Connect Industrial is coming up on November 19th in Houston. You can get more details and register to attend on this link.
For comments, questions or concerns, please contact David Cohen