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(Crystal Proenza is associate editor of Real Estate Florida.)

WEST PALM BEACH, FL-U & Me Transfer Inc. has signed a five-year, 50,000-square-foot lease at an industrial building owned by Sil Fir Corp. Edward Kearney of Sperry Van Ness represented the landlord in the transaction, which is valued at $1.7 million.

The property, located on 3.1 acres at 3300 Electronics Way, is fully occupied by the new tenant, which replaces American Tire Distributors, says Kearney. According to GlobeSt.com, the company signed a 10-year, 144,482-sf lease at IDI-owned Miramar Business Center Building C that commenced this summer. Since that time, West Palm Beach-based owner Sil Fir Corp., led by private investor Rudy Silc, has renovated its building by placing a new five-inch reinforced concrete floor.

U & Me’s new space includes 2,700 square feet of air-conditioned office space. Several calls to the transportation and storage company were not returned by deadline, but Kearney says the tenant plans to use the building as extra warehousing space. He adds that one of the main reasons U & Me was attracted to the space is because its main facility at 2626 Electronics Way is within only several hundred yards.

Kearney says the deal has been in the works for several months, and that he expected it to come together much earlier than it did. “It’s the kind of market where deals take a long time to put together and to finalize,” he says. “The problem in the marketplace is you don’t have a lot of competition; therefore, the sense of urgency is not there.”

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