Northmarq completes $5.5 million sale of 3-acre flex industrial site in West Palm Beach, FL

50th St Flex Industrial
industrial flex property

FORT LAUDERDALE, Fla. (June 25, 2024) — Alan Sperling, vice president of Northmarq’s National Development Services specialty group, successfully brokered the sale of a 3.38-acre industrial property located at 50th St. and N. Australian Ave. in Mangonia Park, Florida. The industrial flex property features 42,000 sq. ft. in close proximity to downtown West Palm Beach.

Northmarq represented the seller, Mangonia Property LLC. The buyer, Aero Engine Solutions, Inc., acquired the property for $5.5 million.

“The buyer group was formerly leasing and sought to relocate their National Headquarters in the West Palm Beach market,” said Sperling. “Despite the scarcity of large industrial assemblages in the market, we were able to identify a property and location near major highways and the Port of Palm Beach, improving major distribution for their clients.”

Learn more about Northmarq’s National Development Services specialty group.

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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
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