Jon Samuel Of Midtown Group Acquires 14.7 Acre Industrial Site From Realty Income For $24M

An industrial property located at 1200 South Congress Avenue in West Palm Beach has been sold for $24,000,000. The asset encompasses 14.7 acres and includes a 50,000 square foot facility that was previously operated by Off Lease Only. The price per square foot for the transaction was $480.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $24,000,000
• Address: 1200 South Congress Avenue
• Market: West Palm Beach
• Acres: 14.7
• Square Footage: 50,000
• Price per Square Foot: $480
• Buyer: Jon Samuel - Midtown Group
• Seller: Sumit Roy - Realty Income & Chase Deuschle - Newmark
• Broker: Sky Groden - JLL

Sky Groden from JLL facilitated the arrangement of the sale, which involved Jon Samuel representing Midtown Group as the buyer. The property is slated for use by Palm Beach County following its acquisition from Realty Income, with input from Chase Deuschle of Newmark as part of the selling party.