The Nestlé Waters Facility's location at 1284 Park Lane Street offers immediate access to Interstate 95 and convenient access to Florida's Turnpike via Indiantown Road. Nestlé Waters, the world's largest distributor of bottled water, fully occupies the single-tenant building. This location serves as a regional distribution hub servicing markets south to Boca Raton and north to Vero Beach.

Palm Beach County's industrial market is heating up. Vista Distribution Center Parcel 19 is all filled up. The 96,077-square-foot class A industrial facility has reached 100% occupancy. McCraney Property Company developed the class A industrial space. It spans two buildings at 2211 and 2213 Vista Parkway within Vista Business Park in West Palm Beach, FL.

“The South Florida industrial market has remained on a torrid trajectory with no let-up in sight,” Steven McCraney, CEO of McCraney, tells GlobeSt.com. “Nearly 70% of the lease up at Vista Distribution Center Parcel 19 has occurred within the first six months of 2016, and we are confident our other properties will benefit from the market's intense demand for quality industrial space.”

MIAMI—The Nestlé Waters Facility, a 22,365-square-foot distribution facility in Jupiter, FL, has traded hands. The sale price: $5.175 million.

Cushman & Wakefield senior director Dominic Montazemi, executive director Scott O'Donnell, director Miguel Alcivar, and senior associate Greg Miller represented David M. Shaw, trustee for the Hummel Land Trust, in sale. Investor Javier Ramos Suarez acquired the asset for $231 per square foot. CBRE senior associate Larry Genet co-marketed the building.

“Offerings that combine the opportunity to acquire a well-located distribution building with excess land and cash flows secured by a tenant of the highest caliber are exceedingly rare,” Montazemi tells GlobeSt.com. “Large amounts of excess land are highly sought after by area tenants and are in increasingly short supply given the infill nature of South Florida real estate.”

Built in 1997, Nestlé Waters Facility sits on 3.74 acres of land. The industrial building was renovated in 2014 and features 32-foot clear heights, a 10,000-gallon fire-resistant fuel tank, 32 distribution truck parking stalls, five dock-high positions, two drive-in areas for truck maintenance and one cross-dock position. The site includes 2.71 acres of excess land.

The Nestlé Waters Facility's location at 1284 Park Lane Street offers immediate access to Interstate 95 and convenient access to Florida's Turnpike via Indiantown Road. Nestlé Waters, the world's largest distributor of bottled water, fully occupies the single-tenant building. This location serves as a regional distribution hub servicing markets south to Boca Raton and north to Vero Beach.

Palm Beach County's industrial market is heating up. Vista Distribution Center Parcel 19 is all filled up. The 96,077-square-foot class A industrial facility has reached 100% occupancy. McCraney Property Company developed the class A industrial space. It spans two buildings at 2211 and 2213 Vista Parkway within Vista Business Park in West Palm Beach, FL.

“The South Florida industrial market has remained on a torrid trajectory with no let-up in sight,” Steven McCraney, CEO of McCraney, tells GlobeSt.com. “Nearly 70% of the lease up at Vista Distribution Center Parcel 19 has occurred within the first six months of 2016, and we are confident our other properties will benefit from the market's intense demand for quality industrial space.”