Florida & Gulf Coast CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
$16M Jet-Engine Testing Facility in Jupiter Finds Niche Buyer Right Inside
Colliers has completed the $16-million sale of a 42-acre jet-engine testing facility on Bee Line Highway in Jupiter, FL.
Mark Rubin, Bastian Laggerbauer, Jake Stauber, Steven Wasserman and Erin Byers represented the seller, Apogee Investment Partners, LLC.
“The most challenging aspect of the sale was finding a niche buyer whose criteria aligned with this unique product being sold,” said Laggerbauer. “Ultimately, the tenant, CTS Engines, decided to purchase the asset due to its essential use required for the continued success of the company.”
The testing facility is designed and constructed for the specific use of turbine engine testing and maintenance. The tenant invested over $12.7 million in building the testing facility, which spans 44.42 acres and features a state-of-the-art, high thrust turbine engine testing stand and ancillary components capable of accommodating the airline industry’s most significant turbine engines.
- ◦Sale/Acquisition
