The Team of Greg Miller, Scott O’Donnell, Dominic Montazemi and Miguel Alcivar Negotiated the Sale of 3600 South Congress Avenue to KVA Congress LLC
BOYNTON BEACH, FL, February 25, 2019 — Cushman & Wakefield has negotiated the sale of 3600 South Congress Avenue, a 47,626-square-foot, multi-tenant light industrial building in Palm Beach County.
The Cushman & Wakefield Capital Markets team of Greg Miller, Scott O’Donnell, Dominic Montazemi and Miguel Alcivar negotiated the sale on behalf of R.T. Milord Co. of Bridgeview, IL. Jupiter, FL-based KVA Congress, LLC acquired the asset for $6.65 million ($140 per square foot).
“KVA Congress, LLC recognized that 3600 South Congress Avenue provided a rare opportunity to acquire a well-maintained and functional industrial asset with proximity to both Boynton Beach and Delray Beach,” said Miller.
“There are excellent demand drivers within this micro-market,” added Miller. “And, when combined with limited light industrial supply, continued potential for robust rent growth should be realized well into the future.”
3600 South Congress Avenue was developed in 1987 on a ±3.3-acre site in Boynton Beach. The building offers 14 grade-level, rear drive-in positions; 18-foot clear heights; and an average bay size of 3,175 square feet. The property was 100 percent occupied at the time of sale by a diverse selection of 14 tenants.
The property sits nearly equidistant to the Atlantic Avenue and Woolbright Road interchanges of Interstate 95, providing exceptional access to South Florida’s major north-south thoroughfare and the region’s highly educated and skilled workforce.
The South Florida Commercial Team of O’Donnell, Montazemi, Alcivar, Miller and Jason Hochman has closed over $1.5 billion in sales and financing over the last three years. Please visit www.southfloridacommercialteam.com for more information about the team.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
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3600 South Congress Avenue Photo
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