In a move that underscores the resilience and strategic foresight of investors in the South Florida industrial market, PMD Capital has completed the acquisition of a nearly 44,000 Sqft industrial property, situated in West Palm Beach, FL, for $8,700,000.
Though industrial assets continue to exhibit robust demand, the overall commercial real estate market in South Florida has shown a sharp decline in transaction volume as Sellers remain hesitant to adjust pricing. Buyers are faced with increased insurance premiums and rising costs of goods and construction materials, creating a bottleneck in the market.Â
The property consists of 4 industrial flex buildings in West Palm Beach, FL and is made up of approximately 14 different units. When reached out for comment, Jonathan Salk of ZYX Capital, represented both the buyer and the seller, said "industrial assets large and small continue to be the focal point of many investors across the state of Florida". West Palm Beach specifically, has seen warehousing demand surge since the start of the decade.