{"id":1004307557,"date":"2019-03-12T00:22:54","date_gmt":"2019-03-12T08:22:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004307557"},"modified":"2021-05-15T04:10:40","modified_gmt":"2021-05-15T12:10:40","slug":"the-silverman-group-sells-south-fl-industrial-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/the-silverman-group-sells-south-fl-industrial-park\/","title":{"rendered":"The Silverman Group Sells South FL Industrial Park"},"content":{"rendered":"
\"Aerial<\/a>

Aerial view of Interstate Industrial Park<\/p><\/div>\n

The Silverman Group has completed the sale of Interstate Industrial Park, a 160,302-square-foot, small-bay industrial portfolio in Riviera Beach, Fla. An entity led by Harry Spitzer paid $11.7 million, or $73 per square foot, for the three-building property. According to Palm Beach County records, A10 Capital provided $7.9 million in acquisition financing.<\/p>\n

Located on 3 acres at 6555 Garden Road, the first asset is a one-story concrete and metal structure completed in 1987. The 18-unit building features 14- to 18-foot clear heights, sprinklers throughout and grade-level rear loading docks. The second and third properties, situated at 6557 Garden Road and 3541 M.L.K. Jr. Blvd., were developed in 1968 on a 2-acre site and feature a total of 31 units, sprinklers, 16-foot clear heights and grade-level front and rear loading doors.<\/p>\n

Thorough representation<\/h2>\n

Greg Miller, Scott O\u2019Donnell, Dominic Montazemi and Jason Hochman of the Cushman & Wakefield Capital Markets’ team, along with CBRE\u2019s Robert Smith and Kirk Nelson, represented the seller. Adam Robbins of ARC Equities worked on behalf of the buyer.<\/p>\n

\u201cThe fact that the assets are located in an Opportunity Zone, potentially affording tax advantages, drove further interest from potential buyers,\u201d<\/em> O\u2019Donnell said in a prepared statement.<\/p>\n

Interstate Industrial Park was 98 percent leased at the time of sale to tenants including the City of Riviera Beach, Palm Beach Laundry and Saf-Glas. Centrally located in Palm Beach County, the property provides convenient access to West Blue Heron Boulevard and the 45th<\/sup> Street interchanges of Interstate 95.<\/p>\n

In January, Cushman & Wakefield represented The Silverman Group in another industrial deal\u2014the sale of a five-building portfolio<\/a> in West Palm Beach, Fla. Genet Property Group acquired the portfolio for $12 million.<\/p>\n

Image via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The buyer shelled out nearly $12 million for the three-building property, while A10 Capital provided acquisition financing to facilitate the Riviera Beach deal.<\/p>\n","protected":false},"author":240,"featured_media":1004307560,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,1492,21742],"tags":[34028,32789,32799,35857,43688,40338],"class_list":["post-1004307557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-miami","category-latest","tag-a10-capital-llc","tag-cbre","tag-cushman-wakefield","tag-greg-miller","tag-opportunity-zones","tag-the-silverman-group"],"acf":[],"yoast_head":"\nThe Silverman Group Sells South FL Industrial Park - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/the-silverman-group-sells-south-fl-industrial-park\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Silverman Group Sells South FL Industrial Park\" \/>\n<meta property=\"og:description\" content=\"The buyer shelled out nearly $12 million for the three-building property, while A10 Capital provided acquisition financing to facilitate the Riviera Beach deal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/the-silverman-group-sells-south-fl-industrial-park\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-12T08:22:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T12:10:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/Interstate-Industrial-Park.png\" \/>\n\t<meta property=\"og:image:width\" content=\"951\" \/>\n\t<meta property=\"og:image:height\" content=\"713\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Timea-Erika Papp\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/the-silverman-group-sells-south-fl-industrial-park\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/the-silverman-group-sells-south-fl-industrial-park\/\",\"name\":\"The Silverman Group Sells South FL Industrial Park - 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