Silverman Group Snags FL Industrial Property

Cushman & Wakefield's Capital Markets team represented the seller, Denholtz Associates, in the disposition of Flamingo Commerce Center, a West Palm Beach-area industrial asset.
Flamingo Commerce Center, Riviera Beach, Fla.

The Silverman Group has acquired Flamingo Commerce Center, an industrial asset in Riviera Beach, Fla., for $6.9 million. The firm purchased the two-building flex property, located in Sandlake Industrial Park, from Denholtz Associates. Cushman & Wakefield’s Capital Markets team represented the seller in the transaction.

Flamingo Commerce Center offers a total of 69,094 square feet across the two, single-story buildings. Features include front- and rear-load, 24-foot ceiling heights, video monitoring, grade-level warehouse space, lighted parking, 24-hour security and accordion hurricane shutters. The property is suited for office, light assembly and distribution, warehouse and showroom use. Located at 7655 Enterprise Drive and 7656 Byron Drive, the 4.1-acre campus offers convenient access to Interstate 95, Florida’s Turnpike, the Bee Line Highway, Palm Beach International Airport and the Port of Palm Beach.

Active sales team

Cushman & Wakefield Senior Associate Greg Miller, Managing Director Dominic Montazemi, Executive Director Scott O’Donnell and Director Miguel Alcivar made up the sales team representing Denholtz.

“Flamingo Commerce Center provided investors with the opportunity to acquire a best-in-class industrial asset with limited near-term capital requirements,” Miller said in a prepared statement. “The property is extremely well located, with exceptional visibility along Interstate 95 and has proven to be incredibly versatile for a broad spectrum of small bay users.”

The South Florida Commercial Team of O’Donnell, Montazemi, Alcivar and Miller has closed more than $630 million in sales and financing over the last 18 months. In January, the team negotiated the $17.6 million sale of Lakeside Plaza, a 119,370-square-foot office building in Fort Lauderdale, Fla.

Image courtesy of Cushman & Wakefield