Denholtz Associates Acquires 69,071-Square-Foot Industrial-Flex Property in Riviera Beach, Fla.
Riviera Beach, Fla. – Denholtz Associates, a privately held, fully integrated real estate development, investment and management company, has announced the acquisition of Flamingo Commerce Center, a 69,071-square-foot industrial-flex building in Riviera Beach, Fla.
The property, which can be accessed at 7655 Enterprise Drive and 7656 Byron Drive, was purchased from KTR Capital Partners. Situated on just over 4 acres, the small-bay warehouse center just minutes off I-95 offers excellent visibility to I-95 and easy access to the nearby Port of Palm Beach and Palm Beach Airport.
The property is currently 75-percent leased and provides potential tenants with flexible layouts that can accommodate a heavy office user or a small warehouse user. Equipped with ample parking, 24’ ceilings, and grade level loading doors, the building is accessible to 53' trailers.
“Flamingo Commerce Center was an ideal investment property based on its prime location near the Palm Beach Port and Airport as well as its location along the 1-95 corridor,” said JP Josephson, Director of Florida Acquisitions for Denholtz Associates. “The multi-tenant property fits squarely in our investment strategy with limited need for capital improvements in the near future. The available vacancies would be perfect for a construction or marine company due to its location in a very tight industrial market. We anticipate reaching full occupancy in the near future.”
Dominic Montazemi, First Vice President of CBRE Investment Properties represented Denholtz Associates in the transaction. Also involved in the transaction were Scott O'Donnell and Miguel Alcivar of CBRE Investment Properties; Jeffrey Kelly, Robert Smith, and Kirk Nelson of CBRE Industrial Brokerage; and Jason Hochman of CBRE Debt & Structured Finance.
To inquire about leasing opportunities please contact Michael Faulk of Michael Faulk & Company, LLC at Michael@faulkandco.com or at (561)478-6400.