JLL brokers $24 million sale of approximately 15 acres

West Palm Beach, FL – June 9, 2025 – JLL announced today that the company arranged the $24 million sale of 14.7 acres of land at 1200 S Congress Avenue in West Palm Beach, Florida, featuring an approximately 50,000-square-foot light industrial facility that was formerly the headquarters of Off Lease Only. The purchase comes following the bankruptcy of the former used car dealership nearly two years ago.

JLL Vice Chairman Sky Groden worked on behalf of the buyer, Jon Samuel of Midtown Group, in the sale from Realty Income. Palm Beach County has plans to occupy the property.

“This sale reflects the growing demand for well-located, adaptable industrial assets in Palm Beach County, one of South Florida’s most active and resilient markets,” said Sky Groden, Vice Chairman at JLL. “With excellent access to major thoroughfares and strong underlying fundamentals, including the location's proximity to Palm Beach International Airport, downtown West Palm Beach and the island of Palm Beach, this site offers long-term value and flexibility for a range of uses. Investors continue to show strong interest in the region, and transactions like this highlight the momentum we’re seeing across the broader South Florida industrial landscape.”

Delivered in 2016 as a custom design-build project, the fully-improved site features a two-story office component and multiple drive-in warehouse bays designed for vehicle maintenance and service with more than 1,250 onsite parking spaces. Formerly home to more than 200 employees, the site benefits from a prime location with direct access to Congress Avenue, Southern Boulevard, and I-95.

According to JLL’s latest industrial insights report for Palm Beach, strong market fundamentals and proximity to core South Florida markets lays a solid foundation for ongoing expansion and development. Industrial transactions over the past two years have been predominantly portfolio sales, ranging from new developments to smaller owner user assets, indicating a growing interest from institutional investors in the market.