Realterm Logistics buys FedEx Express site in Boca Raton

84,380 sf warehouse sold for about $190 psf

Miami /
Nov.November 21, 2017 12:00 PM

1101 Clint Moore Road and Robert G. Fordi, CEO of Realterm Logistics (Credit: Relaterm)

Annapolis, Maryland-based Realterm Logistics just purchased a warehouse leased to FedEx Express in Boca Raton for $16 million, property records show.

Realterm Logistics, the transportation and logistics acquisition arm of the real estate private equity firm Realterm, bought the 84,380-square-foot warehouse at 1101 Clint Moore Road from an entity of Boca Raton-based L&J Schmier Management and Investment Co., records show. The trade breaks down to about $190 per square foot.

L&J Schmier affiliate National Marketplace Associates LTD paid about $6.6 million for the site in 1997, records show.

The FedEx Express warehouse is just west of I-95. Built in 1997, it sits on nearly 8 acres of land and features 75,350 square feet of industrial space and a little more than 9,000 square feet of office space, records show. CBRE’s Jose Lobon represented the seller.

Realterm Logistics’ Paul Underwood said FedEx Express inked a long-term lease at the location, but declined to disclose details of the lease terms, citing a confidentiality agreement. He said the company is seeking to benefit from the e-commerce industry in Boca Raton.

The growing e-commerce industry has fueled South Florida’s industrial market, thanks to tenants like FedEx and Amazon. In July, a recently completed FedEx distribution center in Homestead traded hands for $38.3 million. In February, Charlotte, North Carolina-based Levine Properties sold a FedEx distribution center in Medley for $108 million.


Related Articles

arrow_forward_ios
Shaul Rikman, Roni Soffer, Mati Rikman, and Moshe Wechsler with 21077 Powerline Road (Isram Realty Group, Emerald Empire, Google Maps)
Emerald Empire pays $25M for shopping center near Boca Raton
Emerald Empire pays $25M for shopping center near Boca Raton
From left: Buyers Neil Merin, Dung Lam and Jordan Paul along with 1001 Yamato Road (top) and 999 Yamato Road (bottom) (NAI/Merin Hunter Codman, Moris Moreno)
Yamato Office Center in Boca Raton trades for $46M
Yamato Office Center in Boca Raton trades for $46M
Pebb Enterprises' Ian Weiner (right) and Banyan Development's  Jason Sher with Research Park at Florida Atlantic University (Pebb, Avison Young, LinkedIn, iStock)
Pebb, Banyan pay $37.5M for Research Park at FAU in Boca Raton
Pebb, Banyan pay $37.5M for Research Park at FAU in Boca Raton
Real Estate Investment Services’ Kyle Matthews with  201 East Las Olas Boulevard (Real Estate Investment Services, Loopnet)
Lease roundup: Matthews Real Estate opens first Florida office in Fort Lauderdale
Lease roundup: Matthews Real Estate opens first Florida office in Fort Lauderdale
2950 Northwest Fifth Avenue in Boca Raton (BanyanPlace.org)
Montreal investor pays $20.5M for Palm Beach County assisted living facilities
Montreal investor pays $20.5M for Palm Beach County assisted living facilities
Butters Group's Malcolm Butters with 1751 North Military Trail (Floridatrend, Butters Group, iStock)
Butters and Konsker propose $75M Boca Raton office project
Butters and Konsker propose $75M Boca Raton office project
(L-R) Vanderbilt Office Properties CEO Casey Wold, Site Centers President and CEO David Lukes, and Macquarie Group Managing Director and CEO Shemara Wikramanayake with 1800 North Military Trail  and 5050 Town Center Circle in Boca Raton (Google Maps, Site Centers, Vanderbilt OP, Macquarie Group)
Boca Center’s offices, retail, restaurants trade for $261.5M
Boca Center’s offices, retail, restaurants trade for $261.5M
Alina Residences at 200 Southeast Mizner Boulevard in Boca Raton (Alina Residences, iStock)
Ex-owner of Festival Flea Market pays $6M for Boca Raton condo
Ex-owner of Festival Flea Market pays $6M for Boca Raton condo
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...