The Real Deal Miami

Jupiter distribution center goes for $5.2 million

Nestlé Waters occupies the 22,365-square-foot building near I-95 and Florida's Turnpike

September 18, 2016 11:30AM

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Nestlé Waters distribution center, 1284 Park Lane Street, Jupiter

Nestlé Waters distribution center at 1284 Park Lane Street in Jupiter

An investor bought a Jupiter distribution center occupied by Nestlé Waters for $5.2 million.

Javier Ramos Suarez paid about $232 per square foot for 22,365-square-foot distribution center.

The seller was a land trust. Its trustee, David M. Shaw, was represented in the transaction by brokerage firm Cushman & Wakefield.

The property is located at 1284 Park Lane Street in Jupiter and provides easy access to Interstate 95 and Florida’s Turnpike.

According to Cushman, the distribution center opened in 1997 and underwent renovation in 2014. The property includes 32 parking stalls for trucks and a fire-resistant fuel tank with a capacity of 10,000 gallons.

The Jupiter property also includes three acres of land suitable for storage and for parking trucks.

“Large amounts of excess land are highly sought after by area tenants and are in increasingly short supply,” Dominic Montazemi, a senior director of Cushman, said in a written statement. [Sun-Sentinel] — Mike Seemuth