Watertower Industrial
Industrial
Watertower Industrial is a 6.2-acre infill industrial site on Watertower Road in Lake Park, in central Palm Beach County. It lies just south of Northlake Boulevard, minutes from I-95 and Florida’s Turnpike and about 2.5 miles from the Port of Palm Beach. The site is zoned Campus Light Industrial and Commercial, which allows a wide range of industrial and commercial uses.
We acquired the vacant site in December 2020 through an off market, certainty of close transaction with a long time broker relationship. We then pursued a development plan for a last mile distribution building, with an alternative flex warehouse concept with outdoor yard space. In 2021, during Florida’s industrial boom, we sold the property to a national industrial developer, delivering strong returns to our partners within a short hold period.
We acquired the vacant site in December 2020 through an off market, certainty of close transaction with a long time broker relationship. We then pursued a development plan for a last mile distribution building, with an alternative flex warehouse concept with outdoor yard space. In 2021, during Florida’s industrial boom, we sold the property to a national industrial developer, delivering strong returns to our partners within a short hold period.