Elion Partners sold the Boynton Logistics Center for $36.5 million. Venture One Real Estate bought the nearly 200,000-square-foot industrial park. The “last-mile” business park is made of three buildings. The property last sold in 2020 for $25.85 million.

Mike Davis, Dominic Montazemi, Rick Brugge, Rick Colon and Greg Miller of Cushman & Wakefield arranged the sale on behalf of both the seller and buyer.

“With rents nearly 50% below market, Boynton Logistics Center offers a highly attractive basis at $183 per square foot with tremendous upside,” added Cushman & Wakefield’s Dominic Montazemi. 

Located at 1200, 1210, and 1230 SW 35th Ave., the portfolio offers a range of versatile bay sizes, with dock-high loading and 30-to-36-foot clear heights.  

Palm Beach County’s industrial vacancy rate was 4.3 percent in the fourth quarter of 2023. In the Boynton Beach submarket, the rate is 1.7 percent.

The post Boynton Beach Business Park Trades for $36.5M appeared first on Connect CRE.