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Jet Engine Maker Puts 570,000-SF Industrial Complex Up for Sale

WEST PALM BEACH, FL-The Pratt & Whitney jet engine-making subsidiary of United Technologies Corp. wants to sell 570,000 sf of office, warehouse and manufacturing space on 85 acres of the 7,000 acres it owns in northwestern Palm Beach County.

By Harold Kelman | Updated on September 27, 2000

WEST PALM BEACH, FL-Looking for 570,000 sf of existing office, warehouse and manufacturing space on 85 acres? The Pratt & Whitney jet engine-making subsidiary of United Technologies Corp. may have a deal for you.

The company is selling the assets on the 7,000 acres it owns in northwestern Palm Beach County. One industry source estimates the package could go for up to $30 million or about $53 per sf. That compares with current average new construction costs for similar properties of $125 per sf.

Pratt & Whitney has been downsizing its central engineering campus as it moves most area operations to the company’s main base in Connecticut. In addition to selling about one-third of its Palm Beach County building space, the company plans to offer another 330,000 sf for lease, perhaps for as much as $5 per sf triple net. The firm will continue to utilize a remaining building for operations that are not being sent north.

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