Greg Miller, Dominic Montazemi, Scott O’Donnell and Miguel Alcivar Negotiated the Disposition of the ±69,000-Square-Foot, Small-Bay Industrial Campus on Behalf of Denholtz Associates
RIVIERA BEACH, FL, May 11, 2018 — Cushman & Wakefield has negotiated the sale of Flamingo Commerce Center, a two-building, flex industrial property in Sandlake Industrial Park.
The Cushman & Wakefield Capital Markets team of Greg Miller, Dominic Montazemi, Scott O’Donnell and Miguel Alcivar represented Matawan, NJ-based Denholtz Associates in the sale of the asset. Short Hills, NJ-based The Silverman Group acquired the property for nearly $6.9 millino ($99 per square foot).
Flamingo Commerce Center comprises two single-story, small-bay industrial buildings totaling 69,094 square feet. The buildings offer front- and rear-load, grade-level warehouse space with 24-foot ceiling heights, abundant lighted parking, 24-hour security, video monitoring and accordion hurricane shutters. The campus is ideally suited for office, warehouse, light assembly, showroom and light distribution uses.
Located at 7655 Enterprise Drive and 7656 Byron Drive in Riviera Beach, the ±4.1-acre campus offers frontage on Interstate 95 in Palm Beach County and excellent access to Florida’s Turnpike, the Bee Line Highway, Palm Beach International Airport and the Port of Palm Beach.
“Flamingo Commerce Center provided investors with the opportunity to acquire a best-in-class industrial asset with limited near-term capital requirements,” said Miller. “The property is extremely well located with exceptional visibility along Interstate 95 and has proven to be incredibly versatile for a broad spectrum of small bay users.”
The South Florida Commercial Team of O’Donnell, Montazemi, Alcivar, Miller and Jason Hochman has closed more than $630 million in sales and financing over the last 18 months. Please visit www.southfloridacommercialteam.com for more information about the team.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.