Reich Brothers Acquires Industrial Asset From Downtown Produce In Melbourne For $10.5M

The industrial asset located at 7856 Ellis Road in the Melbourne market was sold for a total price of $10,500,000. The property encompasses 69,142 square feet, translating to a price per square foot of $151.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $10,500,000
• Buyer: Reich Brothers
• Seller: Downtown Produce
• Broker: Jose Montero - The Hype Real Estate Group

The transaction saw active participation from both the buyer and seller, with comprehensive efforts made by the broker representing them, Jose Montero, in facilitating the sale effectively at the specified address.