Asi Cabessa Acquires Industrial Property In Lake Worth Beach For $4.18M

The property asset involved in the transaction is an industrial facility located at 1819 7th Avenue North in the Lake Worth Beach market. The asking price for the asset was $4,180,000, which matched the sale price. The facility spans approximately 24,570 square feet and has a price per square foot of $170.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $4,180,000
• Address: 1819 7th Avenue North
• Market: Lake Worth Beach
• Buyer: Asi Cabessa
• Seller: Mindful - Patrick Carney and Jeffrey Pechter
• Brokers: Juda Hersh - Hersh Equity Group
• Square Footage: 24,570
• Price Per Square Foot: $170

The transaction involved buyer Asi Cabessa acquiring the property from Mindful, represented by Patrick Carney and Jeffrey Pechter. The deal was brokered by Juda Hersh of Hersh Equity Group. Notably, Mindful Capital's previous investment of $2,195,000 for the property in 2018 has seen substantial appreciation, and their last sale, another industrial asset of 50,000 square feet, was brokered by the same representative, Juda Hersh, directed to Cabessa Property Management.