Adir Levitas Of Faropoint Ventures Acquires Gulfstream Commercial Center In Delray Beach For $17.21M

The property involved in the transaction is the Gulfstream Commercial Center located at 1205 Southwest 4th Avenue in Delray Beach. The industrial asset spans 3 acres and features a total square footage of 59,157. It was sold for a price of $17,210,000, which translates to a price per square foot of $291. The warehouse, built in 1982, has 10 dock doors and nine grade doors. Previously, the property last traded for $1.9 million in 2002, indicating a significant increase in value due to rising industrial rents in Palm Beach County.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $17,210,000
• Address: 1205 Southwest 4th Avenue
• Market: Delray Beach
• Square Footage: 59,157
• Price per Square Foot: $291
• Buyer: Adir Levitas - Faropoint Ventures
• Seller: Tom Heller - Heller USA Industrial & Commercial Real Estate

An affiliate of Faropoint Ventures, led by Adir Levitas, successfully acquired the asset from DDD 1205 Inc., managed by Tom Heller. This transaction highlights the involvement of these key individuals within the commercial real estate sector, specifically in the industrial segment of Palm Beach County.