描述

JLL has been exclusively retained to market for sale 45th Street Industrial Park, a rare ±68-acre infill commercial site in West Palm Beach, Florida. The low coverage site previously served as the statewide fulfillment hub for Costco Wholesale and is currently improved with a 366K SF cross-dock warehouse, which includes 151K SF of cold storage. The Property represents one of the most significant large-format commercially zoned sites remaining in South Florida and can accommodate a range of strategic alternatives, including development of over 2.2M SF. A new owner can also reposition and re-tenant the existing transload building for modern logistics operations or leverage the site’s proven infrastructure and highway access to accommodate immediate tenant demand.

Strategically positioned within Palm Beach County’s established industrial corridor, the Property features 1,800’ of frontage on Florida’s Turnpike and direct access to I-95 - the region’s primary transportation arteries - with Palm Beach International Airport (9 miles) and Port of Palm Beach (6 miles) providing tenants with access to air cargo, ocean freight, and over-the-road distribution networks.

45TH STREET INDUSTRIAL PARK REPRESENTS AN EXCEPTIONAL OPPORTUNITY TO ACQUIRE AND CAPITALIZE ON AN INFILL INDUSTRIAL ASSET OF SCALE WITHIN ONE OF THE NATION’S MOST SUPPLY-CONSTRAINED COASTAL GATEWAY MARKETS. THE COMBINATION OF SUPERIOR MULTIMODAL CONNECTIVITY, SUBSTANTIAL SITE SCALE, FAVORABLE ZONING, AND LIMITED COMPETITIVE SUPPLY POSITIONS THE PARK TO CAPTURE PREMIUM RENTAL RATES WHILE ADDRESSING SIGNIFICANT UNMET TENANT DEMAND IN ONE OF THE NATION’S MOST DYNAMIC INDUSTRIAL CORRIDORS.

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属性

SITE SIZE

±68 ACRES

EXISTING BUILDING

366K SF

BUILDABLE

±2.2M SF

媒体

投资亮点

GENERATIONAL DEVELOPMENT OPPORTUNITY

– The largest remaining single industrial parcel in West Palm Beach, owner-occupied since its development 23 years ago — creating the opportunity to acquire this site for the first time in a quarter century.

POTENTIAL TO DEVELOP THE LARGEST INDUSTRIAL PARK IN PALM BEACH COUNTY

– Development potential of ±2.2M SF, establishing the largest industrial park in Palm Beach County, exceeding the next largest multi-tenant Class A facility by ~200K SF.

OPTIMAL SITE CONFIGURATION FOR INDUSTRIAL DEVELOPMENT

– The proposed site plan features six buildings ranging from 136K SF to 177K SF – all positioned below the 200K SF threshold that captured 100% of West Palm Beach industrial leasing activity last year.

MULTIPLE VALUE-CREATION PATHWAYS THROUGH REPOSITIONING OR EXPANSION

– The existing 366K SF building covers just 12% of the site, positioning future development to utilize an additional 48% lot coverage and capture over 22% of West Palm Beach’s total Class A industrial inventory upon full build-out.

EXCEPTIONAL MARKET FUNDAMENTALS DRIVEN BY STRUCTURAL SUPPLY CONSTRAINTS

– The West Palm Beach submarket’s vacancy rate is exceptionally tight at 4.9%, over 330 bps below the statewide average.