Published: November 11, 2016

A1A Real Estate purchases industrial building in West Palm Beach

Ed Kearney of Kearney Commercial Realty, Inc. negotiated the sale of a 13,300 SF industrial building in West Palm Beach situated on two industrial parcels totaling 1.25 +/- acres.  The property was fully occupied with three tenants, the largest of which has been a tenant for more than 18 years.   The property sold for a cap rate of approximately 7.25%.  

The buyer was A1A Real Estate Inc. which completed the down-leg of its 1031 exchange with the purchase of this property.  The building was CBS construction and had no deferred maintenance items.  It had a new roof in 2016 and seven of the ten A/C units were new in 2016. 

Kearney exclusively represented the seller in this transaction.