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CBRE Arranges Largest Industrial Lease Of 2023 In West Palm Beach Industrial Hub

Property Image
LEASED
Robert Smith
Kirk Nelson
Jeffrey Kelly

Florida

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Industrial133,075 SF
Leased 02/01/2024
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Property Image
LEASED

CBRE Arranges Largest Industrial Lease Of 2023 In West Palm Beach Industrial Hub

2860 Ranch House Road

See Similar Deals
Industrial133,075 SF
Leased 02/01/2024
Robert Smith
Kirk Nelson
Jeffrey Kelly
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$0
Total Square Footage:133,075 SF
Transaction Type:Lease

Dalfen Industrial has leased a 133,000-square-foot industrial property located at 2860 Ranch House Road in West Palm Beach. The undisclosed tenant will occupy the entire building, bringing the property to full occupancy at the Palm Beach Airport Logistics Center. This lease represents Palm Beach County's largest industrial lease of 2023.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not available
  • Address: 2860 Ranch House Road
  • Market: West Palm Beach
  • Square Footage: 133,075

CBRE, represented by Kirk Nelson, Robert Smith, and Jeff Kelly, brokered the lease on behalf of developer Dalfen Industrial. They successfully secured the deal, ensuring full occupancy for the property at the Palm Beach Airport Logistics Center. The tenant's identity remains undisclosed.

Players

Jeffrey Kelly
CBRE
Jeffrey Kelly
8 deals$47.5M volume(561) 393-1621
BROKER
Kirk Nelson
CBRE
Kirk Nelson
15 deals$142.7M volume(561) 227-1803
BROKER
Robert Smith
CBRE
Robert Smith
17 deals$480M volume
BROKER

Details

LEASED
IMAGE: Tyler McElroy, Kirk Nelson, Robert Smith & Jeffrey Kelly DATE: 02/01/2024 ADDRESS: 2860 Ranch House Road MARKET: West Palm Beach ASSET TYPE: Industrial ~ SF: 133,075 LANDLORD: Tyler McElroy - Dalfen Industrial BROKERS: Jeffrey Kelly, Kirk Nelson & Robert Smith - CBRE (@CBRE) NOTE: CBRE arranged a 133,000-sq.-ft. industrial lease at 2860 Ranch House Road in West Palm Beach, with an undisclosed tenant occupying the entire building. Representing developer Dalfen Industrial, CBRE's Kirk Nelson, Robert Smith, and Jeff Kelly secured Palm Beach County's largest industrial lease of 2023, bringing the property to full occupancy at the Palm Beach Airport Logistics Center.

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Deal Type
Effective Rent (Annual)

$7,627,778.70

Total Lease Value

$76,277,786.97

Net Landlord Cash Flow$7,627,778.70