Late Murderer's Industrial Portfolio Up for Sale

(This story, in slightly different form, originally appeared in the Daily Business Review.)

Much of the industrial real estate empire built by Fred Keller, a Palm Beach millionaire who murdered his ex-wife several years ago and who died in prison last year, is being put up for sale this week.

The portfolio includes 29 industrial properties, most of them in West Palm Beach and Lake Worth, totaling about 1.2 million square feet. The asking price has not been determined, but Marcus & Millichap brokers Doug Mandel and Adam Kristol, who are marketing the properties, say it will be in the $75-per-square-foot range, or about $97 million. Local brokers familiar with the Kellers’ properties say they expect them to sell for much less, between $50 million and $75 million.