Small Bay Warehouse In Jupiter Fetches $4.4M

Written by on August 28, 2013 in Done Deals, News - No comments

The CBRE Private Capital Group (PCG) worked with the seller on the sale of a small-bay warehouse in Jupiter Park of Commerce in Jupiter.

The 52,641-square-foot warehouse at 1001 Jupiter Park Drive sold to Bessemer Trust Company, NA for $4,375,000, or $83.11 per square foot. CBRE represented the seller, 2501Bristol, Inc., Upland, LLC and Marina Apartments, Inc., all Florida Corporations.

“The strong price per square feet of this sale reflects the growing confidence investors have in well-maintained, highly functional, small-bay warehouse product in Northern Palm Beach County,” said Scott O’Donnell, CBRE Senior Vice President.

Built in 1989, the warehouse at Jupiter Park of Commerce sits on 3.64 acres and was 75% occupied at the time of sale.

CBRE Senior Vice President Robert Smith teamed with O’Donnell and PCG South Florida Commercial team members Dominic Montazemi, Miguel Alcivar and Jason Hochman to represent the seller. The buyer was represented by Judge Moss with Brown Harris Stevens.

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