MDH Partners pays $27M for Palm Beach Park of Commerce warehouse

Tenants include Spartan Motors and Niagara Bottling

Miami /
Dec.December 10, 2020 05:30 PM
TPA's J. Bradford Smith, MDH's Jeff Small Jr, and 15335 Park of Commerce blvd (TPA, MDH, Crexi)

TPA’s J. Bradford Smith, MDH’s Jeff Small Jr, and 15335 Park of Commerce blvd (TPA, MDH, Crexi)

 

An Atlanta-based industrial investment group bought a newly built warehouse in the Palm Beach Park of Commerce in a $27.2 million deal.

MDH Partners bought the 218,000-square-foot building at 15335 Park of Commerce Boulevard and about 6 acres of vacant land at 15200 Corporate Road South, just south of the warehouse, according to records.

An affiliate of TPA Group sold the properties. TPA, also based in Atlanta, is led by J. Bradford Smith. Earlier this year, in a separate deal, TPA sold land leased to Amazon at the Palm Beach Park of Commerce for about $22 million.

The Palm Beach Park of Commerce is a 1,300-acre business park, home to Walgreens, General Motors, Niagara Water, McLane and Kelly Slater Surf Ranch.

The warehouse that MDH bought is building 25 of the business park. It still has 71,000 square feet of space available for lease for $7.25 per square foot, according to an online listing. The building has 36-foot-high clear ceilings. Tenants include Spartan Motors and Niagara Bottling.

MDH is led by Jeff Small Jr., who is also an author and speaker, according to his website. Last year, MDH made its first purchase in Miami, paying $8.9 million for a warehouse in Liberty City.

Other recent Palm Beach County industrial sales include The Easton Group selling a warehouse in Royal Palm Beach for $15.5 million, and Dalfen Industrial paying $18.35 million for a Riviera Beach warehouse leased to FedEx.





    Related Articles

    arrow_forward_ios
    Cabot Properties' Franz Colloredo-Mansfeld with Miramar Centre Business Park (Cabot, iStock) Lease, Logistics
    Lease roundup: Ryder Logistics leases 150K sf at Miramar Centre Business Park
    Lease roundup: Ryder Logistics leases 150K sf at Miramar Centre Business Park
    Nuveen CEO Jose Minaya and 801 Brickell Avenue in Miami (Nuveen, Colliers)
    Lease roundup: Nuveen moving Southeast HQ to 801 Brickell
    Lease roundup: Nuveen moving Southeast HQ to 801 Brickell
    Woodmont Properties chairman Donald Witmondt and ceo Eric Witmondt (Woodmont properties, Loopnet)
    Woodmont beefs up Palm Beach Park of Commerce portfolio with $21M warehouse deal
    Woodmont beefs up Palm Beach Park of Commerce portfolio with $21M warehouse deal
    Bridge Industrial founder and CEO Steve Poulos and the development site at 4310 NW 215th Street (Bridge Industrial)
    Bridge Industrial nabs $154M construction loan for Miami Gardens project
    Bridge Industrial nabs $154M construction loan for Miami Gardens project
    (iStock)
    Insatiable demand and tightening supply pump up South Florida industrial rents
    Insatiable demand and tightening supply pump up South Florida industrial rents
    300 Northpoint Parkway and 1400 Northpoint Parkway in West Palm Beach with Equus Capital Partners’ Daniel DiLella and Prologis' Hamid Moghadam (Google Maps, LinkedIn, Prologis)
    Equus Capital buys West Palm warehouses for $41M
    Equus Capital buys West Palm warehouses for $41M
    From left: Eric Witmondt, chief executive officer, Woodmont Properties and Donald Witmondt, chairman, Woodmont Properties (Woodmont Properties, LoopNet)
    Woodmont plans eight warehouses at Palm Beach Park of Commerce
    Woodmont plans eight warehouses at Palm Beach Park of Commerce
    (Photo-illustration by Kevin Cifuentes)
    South Florida’s industrial squeeze has brokers sounding alarms
    South Florida’s industrial squeeze has brokers sounding alarms
    arrow_forward_ios

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

    Loading...