Press Releases

$45 Million Sale/Leaseback Opportunity Hits the Market in Southeast Florida

June 16, 2020

DELRAY BEACH, Fla., June 16, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the exclusive listing of a 231,432-square-foot sale/leaseback opportunity in Delray Beach, Florida. The property is a state of the art agricultural cold-storage facility located on 36.5 acres. The price is $45 million.

“This opportunity offers investors a solid return backed by a fifth-generation, recession-proof business and the option to build an additional 500,000 square feet of cold storage in a high-demand South Florida submarket,” said Michael Alaoui, a senior associate in Marcus & Millichap’s Miami office. Alaoui has the exclusive listing to market the property on behalf of the seller, a limited liability company. The property is the headquarters of Pero Family Farms, a large national pepper grower, packager, marketer and shipper with over a century of successful operation.

 

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About Marcus & Millichap (NYSE: MMI)

With more than 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of $49.7 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.

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