Boston-based private equity real estate investment firm Cabot Properties has acquired an 86,400-square-foot industrial facility in Palm Beach County for $15.5 million.
Located at 501 103rd Ave., the property was built in 2014 and features 28-foot clear heights, 11 dock high doors, 40-by-48-foot column spacing and 60-by-60-foot loading bay. At the time of sale, the property was fully occupied by two tenants, Fun Sweets with a 51,840-square-foot lease and Red Bull North America with a 34,560-square-foot lease.
Rick Etner, Christopher Thomson, Chris Metzger and Matthew McAllister of Cushman & Wakefield represented the seller, Easton & Associates, in the transaction. The Miami-based commercial real estate services firm originally acquired the asset in 2015 for $9.6 million. The CushWake team also secured both tenants at the facility on behalf of Easton & Associates.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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