Lake Worth Beach, Fla. (June 4, 2024) – Realterm, an independent global investment manager focused on the transportation industry, today announced the acquisition of 3601 Boutwell Road, an industrial outdoor storage (IOS) maintenance facility sitting on 5.3 acres in Lake Worth Beach, Florida.
The site includes a 25,000-square-foot, 10-door maintenance shop as well as a 3,000-square-foot standalone office building. Additionally, the fully paved and lit property features on-site fueling capabilities. The facility was acquired vacant.
“This is Realterm’s 13th property in the South Florida industrial market,” said Ed Brickley, Managing Director, Senior Fund Manager, Realterm. “The acquisition continues our strategy to execute new investments for differentiated IOS assets in top markets across the country.”
Located centrally within Palm Beach County, the property offers close proximity to I-95 and therefore efficient access to the broader South Florida market.
“The property’s location and physical characteristics are ideal for fleet maintenance and other transportation-related operations,” said Arnie Capute, Associate Vice President, Investments, East Region, Realterm. “It is difficult to find IOS sites with the quality and functionality of this property in supply-constrained areas such as South Florida. We remain focused on identifying new investments for differentiated assets such as this one in top markets across the county.”
