Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

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.

Florida & Gulf Coast  + South Florida  + Industrial  |  April 18, 2022
Avid Asset Management, LLC, and Fogel Capital have acquired an industrial building in West Palm Beach, FL for $22 million.
Lisa McDuffie
By: Lisa McDuffie

Avid Asset, Fogel Capital Buy $22M West Palm Beach Building

Cushman & Wakefield has arranged the sale and financing of a 142,082-square-foot industrial building in West Palm Beach. The sale price of $22 million equates to $155 per square foot.

The property was sold by Alliance HSP West Palm Warehouse LLC. Avid Asset Management, LLC, in alliance with Fogel Capital, acquired the property and was represented by Kapp Morrison, LLP.

A Cushman & Wakefield team of Dominic Montazemi, Mike Davis, Scott O’Donnell, Greg Miller, Rick Brugge, Rick Colon, Chris Thomson, Rick Etner, Chris Metzger, Matthew McAllister, Julie Miller and Alex Sulte represented the seller. Jason Hochman and Ron Granite of Cushman & Wakefield secured $17.5 million in financing through SoundPoint Capital on behalf of the buyer.

“The lender recognized an opportunity to finance an asset that has strong historical occupancy along with upside in rents in a tight industrial market,” said Granite.

The property offers suites to accommodate a variety of tenants and is positioned near the Port of Palm Beach, Palm Beach International Airport and downtown West Palm Beach.

Connect

Inside The Story

Cushman & Wakefield

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
Order Reprints
  • ◦Sale/Acquisition