New York-based Rockefeller Group Development Corp. and Palm Beach Property Investments Ltd., an affiliate of the European-based S&K Group, targeted the property for development because of its proximity to Interstate 95, Florida's Turnpike and a CSX rail line.
This joint venture also would create the second foreign trade zone that Rockefeller Group affiliates operate in South Florida. Rockefeller Group Foreign Trade Zone No. 166 operates a 280-acre business park and free-trade zone in Homestead, FL, near the Homestead-Miami Speedway.
When fully built out, the project will contain about two million sf of industrial, warehouse and distribution space.
"The park is ideally situated to meet the continuing growth expected in this region and we are very excited about our entry into the Palm Beach market," Edgar Jones, director of Florida development operations for Rockefeller Group Development, says in a prepared statement.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
