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1426 Skees Rd, West Palm Be...

Updated Oct 29, 2024

Alliance Partners HP Acquires 73,130 SF Industrial Property In West Palm Beach For $16M
SOLDCommercial

Alliance Partners HP Acquires 73,130 SF Industrial Property In West Palm Beach For $16M

1426 Skees Rd, West Palm Beach, FL...

$16,000,000

$218/SF

Building Size

73,130 SF

Asset Type

Commercial

Closing

Nov 22, 2023

About this deal

AI

The property at 1426 Skees Rd in West Palm Beach, FL was sold for $16 million. This commercial asset spans 73,130 square feet across 8.26 acres and consists of nine industrial buildings. The sale was facilitated by Gridline Properties to Alliance Partners HP, with Yonatan Missika representing both sides of the deal. The seller, GC Skees Industrial LLC, completed extensive renovations and attracted a diverse set of tenants to the property.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: $16,000,000.00
  • Market: West Palm Beach
  • Buyer's Representative: Yonatan Missika(Gridline Properties)
  • Buyer: Alliance Partners HP
  • Seller: GC Skees Industrial LLC
  • Square Footage: 73,130
  • Address: 1426 Skees Rd, West Palm Beach, FL

Alliance Partners HP, LLC, a commercial real estate investment firm based in Bryn Mawr, Pennsylvania, and with an office in Fort Lauderdale, made this acquisition. Led by Peter Derrico, Alliance is enthusiastic about expanding its industrial assets in Palm Beach County with the addition of this unique property. The firm's strategic focus on infill industrial real estate in South Florida has led to the growth of its industrial portfolio in the region, making it one of the prominent buyers in the eastern United States.

On the Map

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$16,000,000

$218/SF

Commercial

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Players

Yonatan Missika

Gridline Properties

Broker

$160.8M

vol

12 deals

Broker
AP
Alliance PartnersBuyer
H
HPBuyer
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West Palm Beach Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

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Deal FAQ

About $218 per square foot on a published $16M for 73,130 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.99%

Cash-on-Cash

-0.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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