A Notable Industrial Sale in Palm Beach County for $16 Million
A complex of nine buildings just changed hands
In one of the highest price-per-square-foot industrial trades in Palm Beach County, Gridline Properties, a leading South Florida commercial real estate brokerage, announced the sale of 1426-1486 Skees Road for $16 million to Alliance Partners, a Pennsylvania-based commercial real estate investment firm that also maintains an office in Fort Lauderdale.
The 8.26-acre property, located just west of Florida’s Turnpike, is composed of nine industrial buildings totaling 73,130 square feet and was sold by GC Skees Industrial. Yonatan Missika of Gridline Properties represented both sides of the deal.
“Alliance is excited to expand its footprint of industrial assets in Palm Beach County,” says Peter Derrico, Alliance’s managing director. “These types of buildings are difficult to replicate in today’s market, and they are an excellent complement to our growing portfolio.”