Bush Brothers Provision Company Leases 42,143 SF Industrial Space In Royal Palm Beach
1131 Florida Highway 7
Building Size
42,143 SF
Asset Type
Industrial
Closing
Jan 11, 2024
AI
The West Palm Beach-based company, Bush Brothers Provision Company, has leased a 42,143 sq ft industrial property located at 1131 N. State Road 7 in Royal Palm Beach. The lease was brokered by Jeffrey Kelly, Kirk Nelson, and Robert Smith of CBRE. The property, situated within the Royal Palm Logistics Center, will serve as the new location for Bush Brothers Provision Company, a family-owned meat packing firm since 1925.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not Applicable
- Square Footage: 42,143 sq ft
- Address: 1131 N. State Road 7, Royal Palm Beach
- Market: Royal Palm Beach
- Landlord: Steven McCraney - McCraney Property Company
- Tenant: Doug Bush - Bush Brothers Provision Company
- Brokers: Jeffrey Kelly, Kirk Nelson, and Robert Smith - CBRE
The lease agreement allows Bush Brothers Provision Company to expand its production capacities and strengthen its regional presence.
Players
West Palm Beach Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93