CBRE Arranges Largest Industrial Lease Of 2023 In West Palm Beach Industrial Hub
2860 Ranch House Road
Building Size
133,075 SF
Asset Type
Industrial
Closing
Feb 1, 2024
AI
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
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