Northmarq completes $5.5 million sale of 3-acre flex industrial site in West Palm Beach, FL
FORT LAUDERDALE, Fla. (June 25, 2024) — Alan Sperling, vice president of Northmarq’s National Development Services specialty group, successfully brokered the sale of a 3.38-acre industrial property located at 50th St. and N. Australian Ave. in Mangonia Park, Florida. The industrial flex property features 42,000 sq. ft. in close proximity to downtown West Palm Beach.
Northmarq represented the seller, Mangonia Property LLC. The buyer, Aero Engine Solutions, Inc., acquired the property for $5.5 million.
“The buyer group was formerly leasing and sought to relocate their National Headquarters in the West Palm Beach market,” said Sperling. “Despite the scarcity of large industrial assemblages in the market, we were able to identify a property and location near major highways and the Port of Palm Beach, improving major distribution for their clients.”
Learn more about Northmarq’s National Development Services specialty group.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.
