2020 Industrial Market Report PALM BEACH 2Q 2020

2019-2020 LEASE COMPARABLES

2019-2020 LEASE COMPARABLES

Signing Date Comments

Signing Date Comments

Tenant/Landlord/ Location

Total SF Rental Rate

Tenant/Landlord/ Location

Total SF Rental Rate

Term: 86 Months Escalations: 3% Free Rent: 2 months TI: $1.25 PSF Renewal Term: 62 Months Escalations: 3% Free Rent: 2 months TI: None New

Term: 100 Months Escalations: 3% Free Rent: 3 months TI: $12.00 PSF New Term: 61 Months Escalations: 3% Free Rent: 1 month TI: $2.00 PSF New

Millwork Sales / Thomson Logistics 700 103rd Avenue Royal Palm Beach

Marvin Windows / Duke Realty 6729 Belvedere Road West Palm Beach

1

152,390 SF

$7.65 NNN

2Q20

15

18,297 SF $7.75 NNN 4Q19

Deutz Corp / Cabot Turnpike Business Center 475 N Cleary Road West Palm Beach

Savannah Trims / Silverman 1500 Avenue R Riviera Beach

2

15,010 SF $8.95 NNN 1Q20

16

22,961 SF $7.00 NNN 3Q19

Term: 12 Months Escalations: 3% Free Rent: None

Term: 60 Months Escalations: 3% Free Rent: None

Amarr Company / DRA Advisors 1301 W 13th Street Riviera Beach

Suncrest Supply / Donner Properties 1701 & 2001 Australian Ave Riviera Beach

69,500 SF 13,500 SF $6.20 NNN 3Q19

3

23,471 SF $6.39 NNN 1Q20

17

TI: None Renewal

TI: None Renewal

Term: 84 Months Escalations: 3% Free Rent: None TI: Turnkey New Term: 60 Months Escalations: 3% Free Rent: None TI: None Renewal/Expansion Term: 87 Months Escalations: 3% Free Rent: 3 months TI: $10.00 PSF New Term: 135 Months Escalations: 3% Free Rent: 3 months TI: $18.82 PSF New Term: 64 Months Escalations: 3% Free Rent: 4 months TI: $7.00 PSF New

Term: 60 Months Escalations: 3% Free Rent: None TI: None Renewal & Expansion

Amazon / Brookfield 700 Banyan Trail Boca Raton

Torque Classic Cars . EastGroup Properties 7891 Central Industrial Drive Riviera Beach

175,625 SF on 10.89 AC $8.00 NNN 1Q20

4

18

11,667 SF $8.50 NNN 2Q19

Term: 60 Months Escalations: 3% Free Rent: None TI: $5.00 PSF New Term: 84 Months Escalations: 3% Free Rent: None TI: 10% office New

Trane US / Cabot 6965 Vista Parkway N West Palm Beach

Sorinex Exercise Equipment / DRA Advisors 1301 W. 13th Court Riviera Beach

5

63,117 SF $10.03 NNN 1Q20

19

23,471 SF $8.32 NNN 2Q19

Spartan Motors / TPA Group 15335 Park of Commerce Blvd Jupiter

SIW Solutions / Duke Realty 6717 Belvedere Road West Palm Beach

34,950 SF 2.15 AC

6

$7.09 NNN 1Q20

20

161,725 SF $7.25 NNN 2Q19

Term: 62 Months Escalations: 3% Free Rent: 2 months TI: None New

Fun Sweets / Easton & Assoc 501 103rd Avenue Royal Palm Beach

LVI Intermediate Holdings / EastGroup 7880 Central Industrial Drive Riviera Beach

7

51,840 SF $9.20 NNN 1Q20

21

15,000 SF $7.75 NNN 2Q19

Term: 25 Months Escalations: 3% Free Rent: None TI: None New

NiagaraBottling / TPA Group 15335 Park of Commerce Blvd Jupiter

SC Cabinets / CJJS Holdings 3821 Fiscal Court Riviera Beach

8

114,536 SF $7.10 NNN 1Q20

22

10,500 SF $10.44 Gross 2Q19

Term: 60 Months Escalations: 3% Free Rent: None TI: $10.00 PSF New Term: 60 Months Escalations: 3% Free Rent: None TI: $10.00 PSF New

Term: 63 Months Escalations: 3% Free Rent: 3 Months TI: $5.50 PSF New Term: 60 Months Escalations: 3% Free Rent: None TI: $2.00 PSF Renewal

Parts Authority / Cabot 2211 Vista Parkway West Palm Beach

VPX Pharmaceuticals / EastGroup 7950 Central Industrial Drive Riviera Beach

9

32,120 SF $7.75 NNN 1Q20

23

20,000 SF $7.75 NNN 2Q19

Anton Paar Quantachrome / Boynton Commerce Center, LLC 1900 Corporate Drive Boynton Beach

Service Partners / Cabot 2213 Vista Parkway West Palm Beach

10

17,603 SF $7.95 NNN 1Q20

24

52,505 SF $8.02 NNN 1Q19

Term: 126 Months Escalations: 3% Free Rent: 6 months TI: $10.00 PSF New Term: 85 Months Escalations: 3% Free Rent: 1 month TI: $15.00 PSF New

Term: 86 months Escalations: 3% Free Rent: None TI: Undisclosed; includes addl. land for parking New

Amzazon / Duke Realty 6711 Belvedere Road West Palm Beach

Palm Beach County Food Bank / The Silverman Group 701A Boutwell Road Lake Worth

27,960 SF $7.75 NNN 4Q19

25

96,759 SF $10.18 NNN 1Q19

11

Term: 36 Months Escalations: 3% Free Rent: None

Kiosoft / Duke Realty 1137 Gateway Boulevard Boynton Beach

S&C Electric Company / The Realty Associates 1501 Northpoint Parkway West Palm Beach

12

14,978 SF $8.50 NNN 4Q19

26

12,016 SF $8.33 NNN 1Q19

TI: None Renewal

Term: 60 Months Escalations: 3% Free Rent: None TI: $10.00 PSF New

Term: 60 Months Escalations: 3% Free Rent: None TI: $2.00 PSF New Term: 60 Months Escalations: 3% Free Rent: None TI: $3.00 PSF Expansion/Renewal

Confidential Freight Company / Duke Realty 6729 Belvedere Road West Palm Beach

Laticrete / Duke Realty 5786 Premier Park Drive West Palm Beach

13

18,433 SF $8.65 NNN 4Q19

27

43,880 SF $6.85 NNN 1Q19

Term: 90 Months Escalations: 3% Free Rent: 6 months TI: $5.00 PSF New

Cheney Brothers / Liberty Equities 1101 Northpoint Parkway West Palm Beach

Paradise Exteriors / Boynton Commerce Center, LLC 1916 Corporate Drive Boynton Beach

14

36,599 SF $7.75 NNN 4Q19

28

15,000 SF $8.03 NNN 1Q19

16 | PALM BEACH COUNTY

INDUSTRIAL MARKET REPORT | 17