Monday, September 25, 2017

From reporter Amanda Rabines, “Silverman Group buys two industrial buildings in Lake Worth”.

The article in The Real Deal is subtitled, “The trade breaks down to about $122 psf ”. Here are two excerpts from the article:

“Two affiliates of the Short Hills, New Jersey-based Silverman Group just paid $30.7 million for two industrial buildings in Lake Worth, property records show.
     The two buildings at 701 Boutwell Road span 252,000 square feet combined, meaning the trade breaks down to about $122 per square foot.”

and. . .

     CBRE’s Robert Smith, Jeff Kelly and Kirk Nelson handled the sale. Warehouse spaces range from 15,750 square feet to 166,267 square feet, with asking rents at $7.95 per square foot, according to a CBRE listing. The buildings are 35 percent leased.
     The Silverman Group is a family owned private equity and development firm focused on commercial and industrial real estate, according to its website. It has an office in Palm Beach.”

To learn more about the City of Lake Worth’s Park of Commerce, where it’s located, the history and its unrealized ‘potential’ by so many past City administrations, use this link.