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By Joshua Burd
Woodmont Industrial Partners and Butters Construction & Development have leased up nearly 76,000 square feet of new industrial space in Florida’s Palm Beach County.
According to Woodmont, which is based in Fairfield, commitments at 1939 7th Ave. in Lake Worth include a 50,283-square-foot deal with Foundation Building Materials. Two other tenants, Storm Smart and 3 Brothers of Palm Beach, have taken 17,775 and 7,931 square feet, respectively, at what’s known as 7th Avenue Logistics.
“We felt the timing was right to build a Class A warehouse that was positioned well for smaller tenants, with excellent access to I-95 in Lake Worth,” said Adam Vaisman, director of acquisitions at Butters. “The project was fully leased before building completion, which proved our hypothesis. This was in large part due to the excellent collaboration between our group and Woodmont, as we continue to grow our successful relationship and portfolio in the South Florida MSA.”
In a news release, the firms said the property has 24-foot clear ceiling heights, 14 loading docks, two drive-in doors and ample surface parking stalls. They added that the site provides immediate access to Interstate 95 and other major South Florida arteries, including the Florida Turnpike and Dixie Highway, as well as Palm Beach International Airport and the Port of Palm Beach.
Woodmont and Butters began construction on the facility in February 2023, with Butters Realty & Management brokers Thomas J. Hotz and Paul Shooster securing the leases.
“7th Avenue Logistics’ rapid lease-up illustrates the unwavering demand for high-quality industrial space in Palm Beach County,” said Anthony Amadeo, executive vice president of Woodmont. “This well-located building represents Woodmont’s sixth collaboration with our valued partner Butters in the last two years, and we’re appreciative of their tremendous efforts across construction, negotiation and pre-leasing that contributed to the project’s success.
“With South Florida’s strong population growth, Palm Beach County consistently presents robust opportunities for new development and we look forward to advancing our strategic growth in the region.”
The milestone is Woodmont’s latest in South Florida, where Amadeo and Executive Vice President of Florida Lewis Zlotnick are leading its growth efforts. Most recently, the firm joined Butters to break ground on two other industrial projects, a 300,000-square-foot facility at 15430 Corporate Road North in Jupiter and a 14-building, 2.1 million-square-foot campus in Fort Myers.
Woodmont and Butters also celebrated the completion of the Corporate Logistics Center, a 252,848-square-foot, ground-up industrial building in the Palm Beach Park of Commerce in November 2023, where the team is developing more than 2 million square feet.
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