Boca Raton industrial land gets $16M

Aerial of Arvida Park of Commerce
Aerial of Arvida Park of Commerce

A four-property industrial site in Boca Raton has sold for more than $16 million, The Real Deal has learned.

Fairway Commons Acquisition, a company managed by Boca Raton-based Schmier & Feurring Properties, acquired about 21 acres northeast of West Yamato Road and North Military Trail, according to Palm Beach County records. The transaction closed on Dec. 23 and was recorded by the county on Thursday. No financing was recorded.

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Two Charlotte, N.C. companies sold the properties, which are located within the Arvida Park of Commerce.

Founded in 1981, Schmier & Feurring has developed more than 3 million square feet of commercial real estate in Florida and Michigan, according to its website. — Eric Kalis