Alexander P. Redfearn Of Redfearn Capital Acquires Industrial Property In Delray Beach For $37M

A 3.19-acre industrial property located at 420 South Congress Avenue in Delray Beach, Florida, has been sold for $37 million. The asset encompasses a total of 187,906 square feet and was transacted at a price per square foot of $197. The sale involved the buyer Redfearn Capital acquiring the property from PetMed Express.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $37,000,000
• Square Footage: 187,906
• Price Per Square Foot: $197
• Buyer: Alexander P. Redfearn - Redfearn Capital
• Seller: PetMed Express
• Leaseback: PetMed Express will lease back 100,519 square feet for 10 years under a triple-net lease.

This transaction highlights Alexander P. Redfearn as the buyer representing Redfearn Capital, while PetMed Express acts as the seller in the deal. The strategic decision to engage in a sale-leaseback arrangement illustrates the operational strategies of PetMed Express following the completion of the sale.