Palm Beach County Industrial Building Sells for $13M
- Aug 19, 2019
Integrated Regional Laboratories LLP, a subsidiary of HCA Healthcare, has purchased 3201 Fifteenth, a 103,951-square-foot vacant industrial facility in Deerfield Beach, Fla. G&P Enterprises and Health Communications Inc. sold the asset for $12.9 million. Marcus & Millichap Senior Managing Director and Institutional Property Advisors Senior Director Douglas Mandel and Associate Tyler Kuhlman represented the seller in the deal.
Located at 3201 SW 15th St. in the Northeast Broward industrial submarket, the warehouse and production facility is equidistant from Powerline Road and Military Trail, as well as from Florida’s Turnpike and Interstate 95. Port Everglades is 22 miles south and Fort Lauderdale-Hollywood International Airport is 23.3 miles south of the property.
Initially built in 1985 and expanded in 1999 on 5.7 acres, 3201 Fifteenth includes more than 6,000 square feet of office space and 197 parking spaces. The building features 12 loading docks with two drive-in ramps and clear heights ranging from 22 to 34 feet. HCI Printing and Publishing was the developer and sole tenant of the facility, having occupied the property for the past three decades.
In February, a 48,000-square-foot warehouse traded 2.3 miles northeast of 3201 Fifteenth. The seller, Deerfield Management LP, had owned the asset for more than 20 years.