Lee & Associates South Florida Completes Industrial Sale in Lake Worth Beach

Principal Greg Milopoulos and Vice President Christian Baena close another industrial commercial real estate investment sales transaction

Principal Greg Milopoulos and Vice President Christian Baena close another industrial commercial real estate investment sales transaction

LAKE WORTH, FL (March 28, 2024) Lee & Associates South Florida Principal Greg Milopoulos and Vice President Christian Baena successfully brokered the $4.07 million sale of an industrial building in Lake Worth Beach, Florida. The duo exclusively marketed the property on behalf of an existing client that it also represented in a Fort Lauderdale disposition last month.

The freestanding industrial manufacturing facility at 1830 Second Ave. N. was sold for the full asking price. Milopoulos and Baena led a three-month marketing process to select the most viable buyer for their client Andler Enterprises, which the brokers represent in various markets from South Florida to Tampa and New Jersey.

Located on 1.84 acres, the 22,118-square-foot building features 20,290 square feet of warehouse space (8,190 square feet of which is fully air conditioned), 1,828 square feet of office space, one dock and one ramp. The facility is less than seven miles from Florida’s Turnpike access points and under one mile from I-95, ensuring seamless transportation to all key areas in South Florida. The property is zoned I-POC (Industrial Park of Commerce).

The buyer in the March 25 transaction was not disclosed.

“We are excited to complete another successful and efficient closing for our client, who we represent in various markets throughout Florida and across the country.” Baena said. “In a time when commercial real estate sales are difficult to complete, and deals are being re-traded due to various market conditions, we were able to go under contract at full asking price and maintain those terms all the way through a smooth closing.”

Milopoulos and Baena have more than 20 years of development, investment sales, landlord and tenant representation experience in South Florida. They joined Lee & Associates South Florida in 2023, with Milopoulos heading up the firm’s Broward County industrial activities out of its Deerfield Beach office, and Baena working out of its Miami office. The duo collectively works together representing clients in dispositions and generating investment sales opportunities throughout the tri-county area.

About Lee & Associates | South Florida

Lee & Associates | South Florida is a fully vertical commercial real estate brokerage firm focused on industrial, office, retail, multifamily, investment and land sectors. Our dedicated team of professionals is led by Matthew Rotolante, CCIM, SIOR a 4th generation South Florida native in a family that has owned and operated commercial property here since 1928. Lee & Associates is the largest agent owned brokerage in the nation with Senior Agent’s ability to earn profit share resulting in the highest splits while still receiving full resources, support and leads from our national network. Our collaborative and cheerful culture allows for open communications throughout the company, fostering the sharing of information and best practices to better enable client decision making.  The Lee & Associates’ robust national network that sold and leased over $32 Billion in 2022 offers clients a cross-market platform of expertise and deal opportunities across all asset specialties and representation roles. For the latest news from Lee & Associates South Florida, visit leesouthflorida.com or follow us on FacebookLinkedInTwitter and Instagram, our company local news.

About Lee & Associates

Lee & Associates is a commercial real estate brokerage sales, leasing and management firm. Established in 1979, Lee & Associates has grown its service platform to include over 75 offices in the United States and Canada. Lee & Associates is the largest agent owned commercial real estate brokerage where agents get the greatest return for their efforts and hence are more committed and better enabled to provide superior results for their customers.  For the latest news from Lee & Associates, visit lee-associates.com or follow us on FacebookLinkedInTwitter and Link, our company blog.