Industrial construction returns to PB County

Miami /
Feb.February 18, 2014 12:00 PM

The Palm Beach County industrial market has improved enough to justify new construction.

Vacancies in the county dropped from 8.3 percent at the end of 2012 to 7.3 percent at the end of last year, the Palm Beach Post reported. West Palm Beach vacancies were at 5.9 percent at the end of 2013. A lack of new construction allowed landlords to fill their empty warehouse spaces.

McCraney Property recently announced plans to build the first new industrial project in West Palm Beach in the last five years. The company intends to construct 100,000 square feet of distribution space at Vista Business Park. It also plans 150,000 square feet of industrial space on a site along Florida’s Turnpike north of Southern Boulevard.

Other projects in the works include a 650,000-square-foot distribution facility for Aldi in Royal Palm Beach and Duke Realty’s proposed 1 million square feet of industrial space at its Turnpike Crossings in West Palm Beach. [Palm Beach Post]Eric Kalis


Related Articles

arrow_forward_ios
Pantzer's Jason and Jordan Pantzer with The District Flats apartment complex at 1701 Clare Avenue (Pantzer Properties, Google Maps)
Pantzer pays $78M for West Palm Beach apartment complex
Pantzer pays $78M for West Palm Beach apartment complex
From left: a rendering of the project at 201 Clearwater Drive in West Palm Beach, Starwood Capital CEO Barry Sternlicht, Hyperion Group CEO Rob Vecsler and Winter Properties co-CEO David Winter (Getty, Hyperion, Winter Properties)
Starwood, Hyperion and Winter Properties score $96M construction loan for West Palm mixed-use project
Starwood, Hyperion and Winter Properties score $96M construction loan for West Palm mixed-use project
BGI Companies' Kenneth Baboun, a rendering of Alba Palm Beach and Trez Capital's Ben Jacobson 
BGI scores $82M construction loan for luxury condo project in West Palm Beach
BGI scores $82M construction loan for luxury condo project in West Palm Beach
Jorge Pérez vs Stephen and Louise Kornfeld with a rendering of Icon Marina Village (Related Group, Getty, Wikipedia)
Related Group allegedly jilted investors in waterfront West Palm resi project: lawsuit
Related Group allegedly jilted investors in waterfront West Palm resi project: lawsuit
 Hines' Jeffrey Hines and Robert A.M. Stern with West Palm Beach ( The Boundary with Noë & Associates, iStock)
Hines, Frisbie launch two-tower luxury condo development in West Palm Beach
Hines, Frisbie launch two-tower luxury condo development in West Palm Beach
Current Capital Management’s Todd Nepola and the shopping centers at 2845 North Military Trail in West Palm Beach and 6651 Lake Worth Road in Lake Worth (Todd Nepola)
Todd Nepola buys a pair of Palm Beach County shopping centers for $13M
Todd Nepola buys a pair of Palm Beach County shopping centers for $13M
A rendering of the property at 695 South Olive Avenue in West Palm Beach with Electra America Hospitality Group’s Principal and Managing Partner Russ Urban, Korman Communities’ co-CEOs  Larry and Brad Korman and Transwestern Development Company’s CEO Larry Heard (Gio Fausone of Gulfstream Real Estate Advisors, LinkedIn, Korman, Transwestern)
Newly built micro-units in downtown West Palm fetch $84M after converting to hotel
Newly built micro-units in downtown West Palm fetch $84M after converting to hotel
Vanderbilt Office Properties CEO Casey Wold, Quest Workspaces CEO Laura Kozelouzek, and C-III Capital Partners Chairman and CEO Andrew Farkas with Northbridge Centre at 515 North Flagler Drive in West Palm Beach (C-III Capital Partners, Vanderbilt OP, Questworks Spaces)
Lease roundup: Co-working company doubles down on downtown West Palm Beach
Lease roundup: Co-working company doubles down on downtown West Palm Beach
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...