A 99,000-square-foot warehouse in Palm Bay that serves a UPS operation has been listed for $14 million, putting a corporate-leased industrial asset squarely in play on the Space Coast. The move lands at a moment when investors and developers are watching Brevard County's warehouse scene closely amid climbing aerospace and logistics activity.
The building at 2730 Kirby Cir NE is on the market at $14,000,000 as a single-tenant warehouse on roughly 6.01 acres, built in 1978, with a listed 5.62 percent cap rate, according to LoopNet. The marketing materials peg the price near $141 per square foot and list Marcus & Millichap as the broker of record. The property, which hit the market in mid-June, is being pitched as an NNN investment with a new corporate lease already in place.
Space Coast Momentum
Orlando Business Journal first called out the sale and pointed to how space-industry expansion, from launch providers to their suppliers, is steering more industrial capital toward Brevard County. That broader shift is echoed in local financing activity, including a $26.5 million construction loan for a logistics project in Titusville that underscores the region's growing industrial pipeline, according to CityBiz.
Why Investors Like Corporate Leases
Single-tenant buildings leased to investment-grade giants like UPS tend to be catnip for buyers who want predictable income and limited landlord responsibilities, a combination that can support aggressive pricing even in secondary industrial markets. National coverage continues to show small-bay and last-mile logistics properties outperforming the broader sector, keeping vacancies tight and pricing pressure elevated in select submarkets, per GlobeSt.
Listing Details And What’s Next
Offering documents describe a new five-year NNN lease with a fair-market renewal option and 3 percent annual rent bumps. The current listed rent is shown near $7.95 per square foot, with CoStar estimates coming in higher, suggesting potential upside for a new owner. Marcus & Millichap's team on the deal includes Rory Shelby, Scott Gould and Caitlin Lancaster, and the data room is open to qualified buyers as noted on LoopNet. For yield-hungry buyers working the Florida map, this listing will show just how much of a premium the market is willing to shell out for a corporate tenant foothold on the Space Coast.
