Recent Sales

LAKE WORTH FLEX PROPERTY SOLD

2211 & 2223 2ND AVENUE NORTHPART OF
LAKE WORTH BUSINESS PARK
LAKE WORTH, PALM BEACH COUNTY, FLORIDA

TWO LT. INDUSTRIAL/FLEX SPACE BUILDINGS
35,395 +/- SF OF LEASABLE SPACE

SELLER: LAKE WORTH CORNERS LLC

BUYER: APPLETREE REALTY, LLC

SELLING PRICE: $3,290,000
$93 PSF OF LEASABLE SPACE

SELLER’S  AGENT: CHRISTINA MORRISON PEARCE, P.A.
SOUTHDALE REALTY, INC.

BUYERS’ AGENT: AVI HAYAT - LANG REALTY
DON KURTZER - CENTURY 21 TENANCE REALTY

LENDER: FIRST SOUTHERN BANK

COMMENTS: SALE WAS COMPLICATED BY DETERIORATION OF THE
FINANCIAL MARKETS AND CHANGES IN LENDING CRITERIA
WHICH OCCURRED DURING THE TERM OF THE CONTRACT

PROPERTY INFORMATION

BUILDING A:  2211 2^ND AVENUE NORTH
15,395+/- SF - FLEX SPACE
FULLY LEASED (5 TENANTS)
10 OVERHEAD DOORS PLUS TRUCK WELL
22 WALK-IN ENTRY DOORS
FRONTAGE ON 2^ND AVENUE NORTH

BUILDING B:  2223 2^ND AVENUE NORTH
20,000+/- SF TOTAL - FULLY LEASED (3 TENANTS)
8,000+/- SF OFFICE & 12,000+/- SF FLEX SPACE
19 OVERHEAD DOORS - 1 DOCK-HIGH
6 WALK-IN ENTRY DOORS
DOZENS OF WORK AREAS WITH BUILT-INS THROUGHOUT

• TOTAL USEABLE SQUARE FOOTAGE - 35,395+/- SQUARE FEET.  OF THAT:
  • 31,695+/- SF IS GROUND FLOOR SPACE
  • 3,700+/- SF IS SECOND-FLOOR SPACE
  • 12,000+/- IS CURRENTLY USED AS OFFICE/OTHER SPACE
  • 23,395+/- IS CURRENTLY USED AS FLEX SPACE
• MOST TENANCY IS MONTH-TO-MONTH GIVING BUYER MAXIMUM FLEXIBILITY
• MOST CURRENT RENTS INCLUDE COMMON AREA EXPENSES
• RENTS WERE LAST ADJUSTED OCTOBER, 2007, YET STILL BELOW MARKET RATES
• ALL UNITS HAVE SEPARATE ELECTRIC METERS AND TENANTS PAY ELECTRIC