8333 Southern
Industrial
8333 Southern Boulevard is a light industrial showroom complex on approximately 7.5 acres in unincorporated Palm Beach County, just west of Florida’s Turnpike. The property has six buildings, fenced outdoor storage, a billboard ground lease and 480 feet of frontage on Southern Boulevard, which carries about 85,000 vehicles a day.
We acquired the property at a basis below underlying land value. It was occupied by long term tenants paying well below market rent, and one warehouse building with outdoor storage was unleased. Our business plan was to bring rents to market and lease the vacant space. Strong demand for infill industrial land during Florida’s industrial boom accelerated that plan, and we sold the property at a significant profit for our partners.
We acquired the property at a basis below underlying land value. It was occupied by long term tenants paying well below market rent, and one warehouse building with outdoor storage was unleased. Our business plan was to bring rents to market and lease the vacant space. Strong demand for infill industrial land during Florida’s industrial boom accelerated that plan, and we sold the property at a significant profit for our partners.