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PMD Capital Management Acquires Premier Industrial Asset for $8.7M Amid Market Challenges

In a move that underscores the resilience and strategic foresight of investors in the South Florida industrial market, PMD Capital Management has completed the acquisition of a nearly 44,000 Sqft industrial property, situated in West Palm Beach, FL, for $8,700,000.

Spearheaded by Max Ducharme, a seasoned professional known for his significant role in the $6B Miami World Center Development, this acquisition reflects PMD Capital Management's confidence in the long-term vitality of the industrial real estate sector and the growth of the West Palm Beach, FL market. 

When reached out for comment, Ducharme said “We are excited at the prospect of growing our presence in the West Palm Beach market. Our goal is to continue to acquire both retail and small bay industrial assets across FL, with value-add components".

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. 

This acquisition signals PMD Capital Management's commitment to diversifying and strengthening its portfolio across South Florida. With Ducharme at the helm, PMD Capital Management is well-equipped to navigate the nuances of the local real estate landscape, leveraging opportunities for growth and innovation in a challenging environment. The deal was brokered by Jonathan Salk of ZYX Capital, who represented both Buyer and Seller.


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