1177 W. Blue Heron Blvd.

CBRE Executive Vice President Robert Smith, Senior Vice President Kirk Nelson and Executive Vice President Jeffrey Kelly facilitated the $18,350,000 sale of a multi-tenant distribution, manufacturing & assembly facility located in Riviera Beach.

Local private owner Statewide Capital Group sold the 150,852-square-foot warehouse at 1177 W. Blue Heron Blvd. to OZ Realty, an affiliate of Dallas-based Dalfen Industrial.

The transaction closed June 2.

CBRE Vice Chairman Christian Lee and CBRE Executive Vice President José Lobón with CBRE’s National Partners team also provided support in the transaction. 

According to its website, Dalfen Industrial is a real estate investment manager focused on industrial properties in key markets throughout the U.S. and Canada. The company acquires, develops, and manages millions of square feet of premier commercial properties out of their five offices. Dalfen’s central investment focus is on high quality, strategically located, industrial warehouses, logistic centers, multi-tenant business parks, and manufacturing facilities. Dalfen Industrial remains one of the most active buyers of industrial, with over $1 billion in real estate transactions completed.

The 1984-built 150,852-square-foot warehouse, which is situated on an 8.5-acre site, was 100% leased at the time of the sale. Federal Express Ground is the main anchor tenant.

“Demand within the South Florida industrial real estate sector remains strong,” commented Nelson. “E-commerce and logistic services continue to drive the market.”

With over 70 years combined experience as the North and South County brokerage market leaders with CBRE, Inc., Kelly, Smith, and Nelson have completed thousands of sale and lease transactions totaling billions of dollars in total consideration. They consistently achieve production levels high enough to be recognized nationally within CBRE.

About Jeffrey Kelly: Jeffrey Kelly is a senior ranking commercial real estate professional and perennial Top Producer who specializes in the sale and leasing of major office and industrial assets throughout Broward and Palm Beach counties. A trusted advisor to some of the largest office and industrial landlords in South Florida, Mr. Kelly helps clients navigate the ups and down of the commercial real estate market with ease, creating value through the repositioning and rebranding of major assets.

About Robert Smith: Mr. Smith is a senior ranking commercial real estate professional and Top Producer who specializes in the sale and leasing of major industrial, Life Science, office, and vacant development parcels of all types throughout South Florida. Since joining CBRE in 1996, Mr. Smith has been involved with thousands of real estate transactions totaling billions of dollars in sale and lease consideration. A trusted advisor to many of the largest commercial property owners and developers, Mr. Smith prides himself on working relentlessly to creatively add value to commercial assets through repositioning and rebranding with the use of the highest technology marketing methods available today.

About Kirk Nelson: Kirk Nelson is a Senior Vice President specializing in the sale and leasing of office, industrial and land properties for investors, tenants and lenders located in the Palm Beach, Broward and Treasure Coast Counties of South Florida. Before relocating to South Florida, Kirk served as a Sales Manager for Hanes Branded Apparel in Winston – Salem, NC. During his tenure with Hanes, he gained extensive experience with retailers that included Wal-Mart, Target, Sears and Kmart.