Christopher J. Metzger and Richard F. Etner Jr., two of the Cushman & Wakefield brokers who represented Tyco International in the sale, say the limited industrial land in Boca Raton spurred the competition for the property. "The price of buying dirt is going up," states Metzger, senior director of industrial brokerage in the Fort Lauderdale office of C&W.

"We had worked with four parties known to us to be capable and quality purchasers to develop the best price for our client," says C&W senior director Rick Etner. "It was a quick and effective process. People who own industrial buildings are reluctant to sell, and vacant land for industrial uses is growing scarcer in South Florida."

Etner explains the buyer plans to build a small bay warehouse on the land. C&W brokers Sky Groden and Christopher Thomson also represented Tyco International in the transaction. Greg Lawrence of The Commercial Department represented Eire WRC LLC.