WPB industrial park facing foreclosure

1700 Latham Road in Wedt Palm Beach
1700 Latham Road in Wedt Palm Beach

An industrial park near West Palm Beach is facing a $10.1 million foreclosure lawsuit.

U.S. Bank, representing a commercial mortgage-backed securities trust, filed a foreclosure lawsuit against Okeechobee, formerly known as Latham Road Commerce Center, according to the South Florida Business Journal.

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The suit targets 148,599 square feet of warehouses spread across multiple buildings at 1560 and 1700 Latham Road.

The property has a vacancy rate of 78 percent, according to Trepp. [South Florida Business Journal] – Christopher Cameron