The Team of Greg Miller, Scott O’Donnell, Dominic Montazemi and Miguel Alcivar Negotiated the Sale of 3600 South Congress Avenue to KVA Congress LLC
The Cushman & Wakefield Capital Markets team of Greg Miller, Scott O’Donnell, Dominic Montazemi and Miguel Alcivar negotiated the sale on behalf of R.T. Milord Co. of Bridgeview, IL. Jupiter, FL-based KVA Congress, LLC acquired the asset for $6.65 million ($140 per square foot).
“KVA Congress, LLC recognized that 3600 South Congress Avenue provided a rare opportunity to acquire a well-maintained and functional industrial asset with proximity to both Boynton Beach and Delray Beach,” said Miller. “There are excellent demand drivers within this micro-market. And, when combined with limited light industrial supply, continued potential for robust rent growth should be realized well into the future.”
3600 South Congress Avenue was developed in 1987 on a ±3.3-acre site in Boynton Beach. The building offers 14 grade-level, rear drive-in positions; 18-foot clear heights; and an average bay size of 3,175 square feet. The property was 100 percent occupied at the time of sale by a diverse selection of 14 tenants.
The property sits nearly equidistant to the Atlantic Avenue and Woolbright Road interchanges of Interstate 95, providing exceptional access to South Florida’s major north-south thoroughfare and the region’s highly educated and skilled workforce.
The South Florida Commercial Team of O’Donnell, Montazemi, Alcivar, Miller and Jason Hochman has closed over $1.5 billion in sales and financing over the last three years. Please visit www.southfloridacommercialteam.com for more information about the team.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Communications Specialist, Florida