McCraney sells another industrial property in PB County to Cabot Properties, this time for $36M

TRD MIAMI /
Jan.January 20, 2019 03:00 PM

377 North Cleary Road in West Palm Beach (Credit: LoopNet)

West Palm Beach-based McCraney Property Co. sold a newly built complex of industrial buildings in western Palm Beach County near Florida’s Turnpike for $39.06 million, or $111 per square foot.

The new owner is an affiliate of Boston-based Cabot Properties, which paid $25.8 million in November to buy three other warehouse properties in Palm Beach County from McCraney.

McCraney sold Turnpike Business Park, which the company developed in 2017 on 30.9 acres in West Palm Beach near the turnpike’s exit to Southern Boulevard.

Built on speculation without tenants in place at 377 North Cleary Road, Turnpike Business Park is a cluster of five industrial buildings with a total of 352,586 square feet. Southern Glazer’s Wine & Spirits is among the tenants.

Cabot acquired the property with representation from a seven-man team at brokerage firm Cushman & Wakefield brokers: Christopher Thomson, Chris Metzger, Richard Etner, Matthew McAllister, Mike Davis, Rick Brugge and Michael Lerner. [South Florida Business Journal] – Mike Seemuth


Related Articles

arrow_forward_ios
Ron Bergeron with 3310 Northwest 24th Street (Credit: Facebook and Google Maps)

“Alligator Ron” Bergeron sells properties near Miami airport to Prologis

“Alligator Ron” Bergeron sells properties near Miami airport to Prologis
Vladislav Doronin (Credit: Gesi Schilling via Wikipedia)

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M
Seth Wise, Co-CEO of The Altman Companies, Altís Ludlam Trail

Altman scores $55M construction loan for Ludlam Trail project

Altman scores $55M construction loan for Ludlam Trail project
Joseph Swedroe (Corcoran, iStock)

Corcoran agent in Miami loses job over “racist and fear-based” marketing

Corcoran agent in Miami loses job over “racist and fear-based” marketing
Vanessa Grout with Vladislav Doronin

Vanessa Grout leaves Ugo Colombo’s firm to lead OKO Group’s real estate arm

Vanessa Grout leaves Ugo Colombo’s firm to lead OKO Group’s real estate arm
Rendering of the project with Jon Paul Pérez (top) and Jorge Pérez 

Related switches gears on Terminal Island project, now plans low-rise offices

Related switches gears on Terminal Island project, now plans low-rise offices
Edgardo Defortuna and a rendering of La Playa de Varadero

Not stopping for the pandemic: Fortune, Château could launch Sunny Isles project by year-end

Not stopping for the pandemic: Fortune, Château could launch Sunny Isles project by year-end
Richard Branson (Credit: Virgin, Cindy Ord/Getty Images)

Virgin Trains seeks $350M to build five stations in Miami-Dade

Virgin Trains seeks $350M to build five stations in Miami-Dade
arrow_forward_ios

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

Loading...