CBRE Facilitates Sale of 61,480-SF Industrial Flex Building in Riviera Beach, Florida

CBRE has facilitated the sale of a 61,480-sq.-ft. industrial small bay building in Riviera Beach, Florida, to Connecticut-based East Capital Partners.

José Lobón, Trey Barry, Frank Fallon, Royce Rose, George Fallon, Gabriel Braun and Daniel Sarmiento with CBRE National Partners, represented the seller, global investment management firm Realterm, in the transaction.

Located at 2000 Avenue P, the facility was 100% leased to 12 tenants that are critical to the local economy and service the immediate area. It features market-driven design specifications, including 20’ clear heights, dock-high rear-load configuration, tilt-up construction, and ample car parking.

The facility fronts Blue Heron Boulevard and is just minutes west of I-95, providing tenants with quick access to the region’s key transportation infrastructure. It’s situated in Palm Beach County’s sought-after Lewis Terminals industrial submarket, which comprises 3.5 million square feet of space with a vacancy rate of 1.4%, according to CBRE.