Woodmont Industrial Partners (WIP), a national developer of industrial properties, today announced the acquisition of 15501 Park of Commerce Boulevard located in Jupiter, Florida, in Palm Beach County. The site consists of an approximately 212,000-square-foot newly constructed Class A warehouse building, which is fully pre-leased to two tenants.
“The South Florida industrial market is experiencing a tremendous demand for quality space as e-commerce brands and companies across industries seek additional square footage,” said Anthony Amadeo, Vice President at WIP. “We remain extremely bullish on the future and growth of the South Florida market and specifically in Palm Beach County, where we are slated to construct an additional 2 million square feet over the next 24 months. It was a pleasure working alongside the TPA Group in structuring this Forward Commitment and we’re thrilled to be able to fully pre-lease the site to two high-quality tenants. We will continue to seek out new opportunities in the market to expand our footprint.”
15501 Park of Commerce Blvd. offers a premier location with easy access to major highways including State Route 710, known as the Beeline Highway; Palm Beach International Airport; and the Port of Palm Beach. Property highlights include 36’ clear ceiling height, an ESFR sprinkler system, ample parking for cars and trailers, and a reinforced concrete truck court.
Over the past year, WIP has executed several key acquisitions in the most active industrial growth markets in the country, adding approximately 4 million square feet to its portfolio. The Park of Commerce Blvd. acquisition follows Woodmont Industrial Partners’ purchase of 115 acres of land entitled for industrial development in the Palm Beach Park of Commerce in late 2021, in partnership with PCCP and Butters Construction & Development. The team remains incredibly active in the South Florida market, as well as Northeastern states such as New Jersey, New York, and Pennsylvania with over 7 million square feet in its active pipeline for development and/or renovation.
