CBRE Announces $31M Sale of 120,000 SF Industrial Property in West Palm Beach

CBRE has arranged the sale of a 120,000-sq.-ft. industrial and office property located at 1300 Allendale Road in West Palm Beach, Florida. Boise Cascade purchased the property for $31 million in a sale that closed Oct. 20.

Robert Smith, Kirk Nelson, and Jeff Kelly with CBRE Industrial & Logistics represented the seller, West Palm Beach-based Brown Distributing Company, in the transaction. Boise Cascade was represented by NAI Miami.

“We fielded a lot of interest in this property, including many unique users who were interested in all or part of the property. In the end, we were able to secure an all-cash buyer who will be using the property to expand their distribution network,” said Robert Smith, an Executive Vice President with CBRE.

Built in 1987, the property sits on 9.77 acres along Interstate 95. It features a 91,120-sq.-ft. climate-controlled warehouse with 20 dock-high doors and two cooler rooms; a two-story office space totaling 20,000 sq. ft.; and a fully fenced truck court and auto service garage.