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KTR, Suncrest Work Out 5-Year Sale-Leaseback

RIVIERA BEACH, FL-KTR Capital Partners takes over a 105,000-sf distribution center built in 2005 for Suncrest Supply.

By Natalie Keith | Updated on December 19, 2007

(Read more on the industrial market.)

RIVIERA BEACH, FL-New York City-based KTR Capital Partners has acquired a 105,000-sf distribution center in a five-year sale-leaseback deal with Suncrest Supply Inc., a flooring products distributor. The acquisition price was not released, but sources put the price tag at close to $12 million.

The building is situated on six acres at 7450 Byron Dr. and has direct access and frontage on Interstate 95 via Blue Heron Boulevard. Constructed in 2005, it features 32-foot clear heights with 14 dock-high positions and four drive-in doors. “The property is a class A distribution facility located in Riviera Beach, which is a strong industrial submarket of Palm Beach County,” KTR senior vice president PJ Charlton tells GlobeSt.com. “It has good access and strong frontage along Interstate 95 which made the deal attractive.”

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