Elion Partners has acquired a 197,600 square foot last-mile industrial distribution asset located at 1200, 1210 & 1220 SW 35th Avenue in Boynton Beach, Florida, for $26 million.
The South Florida industrial distribution asset is Class A and consists of three buildings with direct access to Interstate 95.
Juan DeAngulo, Managing Partner of Elion Partners, said: “This acquisition is the first in a lineup of assets we have under contract. We anticipate closing on additional pipeline this quarter.”
Focused on last- and middle-mile industrial distribution assets, the firm is sourcing opportunities in core markets with strong consumer ordering habits.
“Online consumer spending continues to accelerate demand for more last-mile locations,” said DeAngulo. “With consumers demanding one- and two-day delivery, being close to roof tops is essential.”
Elion recently aggregated a portfolio of 3 million square feet of industrial product in South Florida and the Washington D.C. metro area. The firm looks to replicate this strategy moving forward.