Woodmont Industrial Partners, Butters Construction & Development, and PCCP LLC have started construction on the first of eight buildings in the Palm Beach Park of Commerce. The industrial space at 15430 Corporate Road North is expected to be completed in the second quarter of 2024 and will offer 303,364 square feet of Class A space for lease.
“Palm Beach County continues to stand tall as one of the nation’s strongest growth regions, and the Palm Beach Park of Commerce offers a premier location for those expanding in the South Florida market,” Anthony Amadeo says, Executive Vice President at Woodmont Industrial Partners. “This groundbreaking is an exciting moment for Woodmont, as it marks our third project in the Palm Beach Park of Commerce and the next stage of a much-anticipated development venture with our valued partners Butters and PCCP. We look forward to providing a Class A building in Palm Beach County, where strong demand and record-low vacancy rates continue to validate the importance of this key location for industrial users.”
The site that Woodmont, Butters, and PCCP acquired in December 2021 will have many impressive features, including 40-foot clear height ceilings, 60-foot speed bays, 43 dock-high doors, two drive-in doors, over 196 truck courts with fiber-reinforced concrete, and ample surface parking, which includes 26 trailer parking spaces.
“We believe this project presents a compelling opportunity to partner with Butters and Woodmont, experienced developers with local market expertise to build a well-conceived project within an established industrial park that has attracted strong credit tenants,” Kevin Chin says, Managing Director with PCCP.
The property, called PBPOC, boasts a unique location that provides access to a thriving labor market and a rapidly growing business and population area. It’s a top-tier business location that offers rail service, foreign trade zones, heavy industrial options, and a direct link to the Port of Palm Beach. It’s conveniently located near the area’s extensive transportation network, including airports and major highways like the Florida Turnpike and I-95. The property is currently being marketed for lease by Cushman and Wakefield, represented by Christopher Thomson and Christopher Metzger.
“The Palm Beach Park of Commerce continues to show its strength by virtue of continued tenant demand and strong absorption,” said Adam Vaisman, Director of Acquisitions at Butters. “The design and parameters of the project fit the needs of the expanding base of businesses either growing or relocating to the area. As business needs change, so have our design parameters in order to be able to serve the local, regional, and international tenant demands. We’re elated to continue and further expand our venture with Woodmont and PCCP.”
Woodmont has been busy in South Florida lately, making significant acquisitions and groundbreakings in the area. Its expansion strategy has been unfolding smoothly over the past year, including three new construction starts in partnership with Butters. These projects include a 250,000-square-foot warehouse logistics facility at 15791 Corporate Circle in Jupiter, a 75,989-square-foot warehouse and distribution facility in Lake Worth, and a site work commencement on a project in Fort Myers that will yield 2.1 million square feet across 14 buildings to be delivered over the next three years.
