Elion Partners pays $26M for Boynton Beach warehouses

The combined property spans 12 acres

Miami /
Jan.January 27, 2020 12:30 PM
1210 Southwest 35th Avenue and Elion Partners Shlomo Khoudari

1210 Southwest 35th Avenue and Elion Partners Shlomo Khoudari

UPDATED, Jan. 27, 4:10 p.m.: Industrial real estate in Palm Beach County continues its hot streak.

Elion Partners bought three warehouses in Boynton Beach for $25.8 million.

The North Miami Beach-based firm purchased 1220 Southwest 35th Avenue, 1210 Southwest 35th Avenue and 1200 Southwest 35th Avenue, with a combined 197,600 square feet. The price equates to $130 per square foot, records show. A company tied to Exeter Property Group sold the three warehouses.

The combined property spans 12 acres.

In 2017, Exeter purchased the land at 1210 Southwest 35th Avenue for $750,000, and built the warehouse in 2018, records show. Exeter paid $7.1 million for the property at 1200 Southwest 35th Avenue in 2015. That warehouses were built in 2000.

Elion, led by Jack Azout, Sylvain Argy, Juan DeAngulo and Shlomo Khoudari, has over $1.5 billion in real estate assets and 73 active properties, according to its website.

The company is a prolific buyer in South Florida’s commercial market. In July 2018, Elion bought a 59,135-square-foot-warehouse in northwest Miami-Dade for $7.23 million or about $120 per square foot. And Elion Partners paid $9 million for the Weston Business Plaza at 11800-1880 North Commerce Parkway in March 2018.

Elion Partners is also planning to build a sprawling industrial complex with up to 30 million square feet of warehouses outside Chicago, along with a master-planned village for truckers and other highway travelers.

With a limited supply of industrial properties and growing demand for e-commerce, industrial continues to remain one of South Florida’s best performing asset classes. In Palm Beach County, industrial investment sales jumped 50.2 percent in 2019, year-over-year, to $283.6 million, according to a recent report from Avison Young.

Correction: A previous version of this story misstated the number of warehouses purchased, the total square footage and the price per square foot. 


Related Articles

arrow_forward_ios
Walton Street Capital Managing Partner Eric Mogentale with the complex (Alta Developers, Walton Street Capital)
Walton Street Capital buys Boynton Beach apartments for $93M
Walton Street Capital buys Boynton Beach apartments for $93M
500 Ocean Apartments  at 101 South Federal Highway, Boynton Beach (Photo via LandSouth Construction)
Avanti buys Boynton Beach apartments for $105M
Avanti buys Boynton Beach apartments for $105M
American Land Ventures President Granvil Tracy and Isram Realty founder and chair Shaul Rikman with 630 East Woolbright Road (Google Maps)
American Land Ventures, Isram Realty score $85M construction loan for Boynton Beach apartments
American Land Ventures, Isram Realty score $85M construction loan for Boynton Beach apartments
2828 South Seacrest Boulevard with ShareMD executives John Bardis and George Scopetta (Google Maps, LinkedIn)
ShareMD buys Boynton Beach medical office building for nearly $7M
ShareMD buys Boynton Beach medical office building for nearly $7M
Healthpeak Properties CEO Thomas Herzog. (Healthpeak, Sonata)
Fortress buys three Palm Beach County assisted living facilities for $30M
Fortress buys three Palm Beach County assisted living facilities for $30M
Pennock Square at 901 West Indiantown Road with Last Mile's Ryan Moore and Elion's Shlomo Khoudari (Google Maps)
Elion Partners sells Jupiter shopping center for $19M
Elion Partners sells Jupiter shopping center for $19M
Cobblestone Commons at 8767 Boynton Beach Boulevard (Google Maps)
Tricor Financial sells Winn-Dixie-anchored Cobblestone Commons near Boynton Beach for $38M
Tricor Financial sells Winn-Dixie-anchored Cobblestone Commons near Boynton Beach for $38M
Dermot Company's Stephen Benjamin with Seabourn Cove at 3501 North Federal Highway (Linkedin, Google Maps, Seabourn Cove)
Dermot Co. pays $143M for Boynton Beach apartments
Dermot Co. pays $143M for Boynton Beach apartments
arrow_forward_ios

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

Loading...