Aptos Management A Acquires Fairfax Industrial Park In Riviera Beach For $26.51M

The asset involved in this transaction is a 5-acre industrial property located at 1700 & 2060 Avenue L in the Riviera Beach market. The sale was finalized for a total amount of $26,509,000, which translates to $211 per square foot for the 125,452 square feet of space included in the deal.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $26,509,000
• Address: 1700 & 2060 Avenue L
• Market: Riviera Beach
• Square Footage: 125,452
• Price Per Square Foot: $211
• Buyer: Aptos Management A
• Seller: Benjamin Genet - Genet Property Group

Aptos Management A has acquired the property, paying over double its 2018 sale price. The transaction underscores significant investor interest in the area, with a notable 6.7% vacancy rate and increasing industrial rents in Palm Beach County, highlighted by the rising demand near the Port of Palm Beach.