Marcus & Millichap Brokers The Sale Of A Palm Beach County Industrial Property For $4.1 Million

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of Geneva Bays V, a 21,035-square foot industrial property located in Lake Worth, Florida. The asset sold for $4,100,000.

“This sale reflects the continued strength of the small-bay industrial market in South Florida,” said Douglas K. Mandel, executive managing director of investments.

Mandel, Tyler S. Kuhlman, and Zachary Levine, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, Geneva Bays 5 LLC. The buyer, PEQ LWCC TM LLC, was also procured by Mandel, Kuhlman, and Levine.

Geneva Bays V is located at 1821 7th Ave. N., just south of 10th Avenue North and about a quarter mile west of Interstate 95. Built-in 1976-1977, the 1.2-acre property features 67 bays with ten-foot clear heights, ranging in size from 215 to 520 square feet. Geneva Bays V is currently 98 percent occupied with a diverse mix of tenants. 

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