Dalfen Industrial continues acquisition spree in West Palm Beach
Dalfen Industrial recently acquired 3774 Interstate Park Road North in West Palm Beach, Florida. This comes on the heels of Dalfen’s recent acquisition of the 152,000 square foot building at 1177 Blue Heron Blvd.
3774 Interstate Park Road North is a 204,900 square foot facility in the Riviera Beach submarket. With direct visibility on I-95, traffic counts of over 250,000 cars per days and close proximity to Palm Beach International Airport (PBI) and the Port of Palm Beach, this property is ideally situated to cater to the e-commerce fulfilment needs of the South Florid markets.
In a market with approximately 2 per cent vacancy rate, this property provides a key location in West Palm Beach with access nearly 1 million people within a thirty-minute drive and 6.2 million people within a two-hour drive. The property is exceptionally well positioned to meet the ecommerce fulfilment needs of one of the most affluent demographic areas in the country.
The class A, property was built in 1996 for Serta Simmons, who remains as the property’s sole occupant. It has unique features in this submarket including 2.2 acres of trailer storage, an additional auto parking lot and a fully fenced, secure access with a guard house at the entry. Other major companies with distribution/fulfilment centers in the area include Walgreens, Fedex, UPS, PepsiCo and Coca Cola.
“From the West Palm Beach area, you are able to easily access all major metros within South Florida. This area has a rapidly growing population and limited availability of land. As a critical target market for Dalfen Industrial, this acquisition is a perfect addition to our portfolio in South Florida,” says Mike Solis, Southeast Market Officer at Dalfen Industrial.
“Our aim is to build one the nations foremost last mile industrial real estate portfolios, and this asset exemplifies the criteria that we are looking for regarding both construction and ideal location,” says Sean Dalfen, President and CIO at Dalfen Industrial. He added, “We love the fundamentals of the South Florida market, and West Palm Beach in particular, with its growing population, natural barriers to entry and business friendly environment. Dalfen will continue to expand our footprint in the area.”