Decker Capital, Mindful Capital, & Brett Schlacter Acquire Industrial Park In West Palm Beach For $4.85M

A group of millennial real estate investors has closed on a multi-tenant industrial park in West Palm Beach. The property is located at 7641 Hooper Road and spans 69,120 square feet on 6.5 acres. The deal was sourced and syndicated by Shane Decker, a 30-year-old who oversees Decker Capital, Inc. The privately held real estate investment firm specializes in acquiring and managing off-market value-add industrial assets in Florida. Decker Capital joined forces with Brett Schlacter, a 33-year-old Miami insurance litigation attorney and real estate investor, and Mindful Capital, an industrial powerhouse operator led by President Patrick Carney, who is 32 years old.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $4,850,000
• Square Footage: 69,120
• Price per Square Foot: $70
• Acres: 6.5
• Price per Acre: $746,154
• Address: 7641 Hooper Road, West Palm Beach
• Market: West Palm Beach

The seller of the property, Pepin Family LTD Partnership, constructed the two buildings over 30 years ago. Some of the tenants have been occupying the space for over two decades. Decker Capital and its partners are focused on acquiring quality warehouse assets in Florida, particularly in the "small-bay" category, where bay sizes range from 1,000 to 4,300 square feet. Industrial assets have performed strongly during the Covid-19 pandemic, and the investors aim to support the local small-business community by adding Hooper 76 LLC at 7641 Hooper Road to their portfolio.

Jordan Simler and David Sarno of Valley National Bank provided the financing for the transaction.