Angelo, Gordon & Co. Acquires Industrial Asset In West Palm Beach For $20M

The industrial portfolio acquired in Florida by a joint venture between Angelo, Gordon & Co. and Redfearn Capital includes three properties totaling 217,590 square feet. One of the facilities is located at 7555 Garden Road in Riviera Beach, with a size of 65,600 square feet. The sale price for the entire portfolio was $20 million. Other properties in the portfolio are 400 Enterprise Drive in Port St. Lucie, spanning 84,400 square feet, and 8620 LTC Parkway in Port St. Lucie, covering 67,590 square feet.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $20,000,000.00
• Address: 7555 Garden Rd, West Palm Beach, FL
• Market: West Palm Beach
• Square Footage: 217,590
• Tenants: Trane Inc., ABC Supply Co., Suncoast Roofers Supply

Robert Smith and Kirk Nelson of CBRE served as the representatives of the joint venture in this acquisition. The tenants occupying the facilities in the portfolio include Trane Inc., ABC Supply Co., and Suncoast Roofers Supply. Notably, the seller's identity was not disclosed in the transaction.