Niagara Bottling and Meyer Tool take space at modern facility as Ambrose expands industrial footprint in Florida

PALM BEACH – Ambrose, a leading vertically integrated investment manager specializing in Class A industrial, logistics and e-commerce real estate, announced today the full lease-up of Palm Beach Park of Commerce, a 246,000-square-foot Class A industrial facility located at 15810 Walgreens Drive in Jupiter, Florida, just 15 miles north of West Palm Beach. Niagara Bottling, a leading bottled water company, and Meyer Tool, a high-tech aerospace parts manufacturer, have both signed leases at the building. The LEED Silver-certified property is now fully occupied, marking a milestone for Ambrose’s growing Florida presence. The firm is also nearing the completion of five other Class A industrial facilities in the region – Orlando Logistics Park at LeeVista Buildings I, II and III in Orlando and Alico ITEC Logistics Park Buildings I and II located in Fort Myers.

Strategically located on an approxmately 17-acre site just off of Beeline Highway in Palm Beach County, Palm Beach Park of Commerce offers convenient access to the region’s extensive transportation network – including air and seaports – with nearly 14 million people located within a day’s drive of the facility. The modern facility features 32’ clear heights, 263 automobile parking spaces, 72 trailer parking spaces, 53 docks and two drive-in doors. The industrial park is also home to notable logistics tenants including Amazon, Walgreens and CSX, among others.

“The successful lease-up of this modern industrial facility is a reflection of Ambrose’s depth of local market expertise and our exceptional, hands-on approach to providing the most effective leasing and operations solutions for these industry-leading firms,” said Aasif Bade, CEO and Founder of Ambrose. “We look forward to continuing to execute our strategy of developing, acquiring and operating high-quality properties in highly competitive Florida submarkets that are characterized by favorable supply-demand dynamics, consumer patterns and critical infrastructure connectivity.”  

Niagara Bottling, the largest family-owned and operated bottled water company in the country, is a national leader in private label beverage manufacturing. The firm is focused on single-serve bottled water and other beverages for grocery, club store, convenience and wholesale customers and has more than 50 production facilities throughout the U.S. and Mexico. Meyer Tool is a privately held, high-tech manufacturer with 13 facilities across North America and Europe specializing in precision components for the aerospace and gas turbine engine industries.

Following the lease-up of Palm Beach Park of Commerce, Ambrose anticipates completing construction of Buildings I, II and III in Orlando Logistics Park at LeeVista and Buildings I and II in Alico ITEC Logistics Park in Fort Myers before the end of the year. Orlando Logistics Park at LeeVista is located directly north of Orlando International Airport and covers 71 acres. The three buildings total 673,206 square feet and approximately 5,600 square feet of office space, with spaces available ranging from 25,000 to 349,795 square feet. Alico ITEC Logistics Park – situated on 25 acres just south of the RSW Southwest Florida International Airport and major FedEx and UPS hubs – comprises two buildings. Building I is 195,021 square feet, and Building II has 67,038 square feet stilll available within a 185,216-square-foot building footprint. Buildings across both parks  are currently seeking LEED certification.

Dave Loudenslager, Ambrose’s Vice President and Florida Market Officer, added, “These milestones demonstrate our commitment to delivering high-quality, strategically located industrial facilities that meet the evolving needs of Florida industrial and logistics tenants. With five state-of-the-art, Class A buildings nearing completion across Orlando Logistics Park and Alico ITEC Logistics Park in Fort Myers, the Ambrose team is energized by the momentum and dedicated to supporting the region’s dynamic logistics and distribution ecosystem.”

Allison Rennaker, Jack Thompson and Victoria Bulmahn to fill operations, development and internal support roles at Indianapolis-based industrial real estate investment manager

INDIANAPOLIS – Ambrose, a leading vertically integrated investment management firm specializing in Class A industrial, logistics and e-commerce real estate, announced today that it has added Allison Rennaker as property operations manager, Jack Thompson as development associate and Victoria Bulmahn as administrative assistant. These new additions to the Ambrose team follow recently announced companywide promotions as the firm continues to position its investment and operations platform to capitalize on strategic growth opportunities amid challenging market dynamics.

“We’re excited to welcome Allison, Jack and Victoria to the Ambrose team,” said Executive Vice President and COO Grant Goldman. “Each of them brings unique expertise that will help strengthen key areas of our platform — from operations and development to internal support — as we continue to grow and deliver best-in-class service to our investors and tenants.”

As property operations manager, Rennaker will support key asset management initiatives, including oversight of third-party management firms, property budgeting and the implementation of standardized systems and processes. Rennaker joins Ambrose from GLP US, now a part of Ares Management Corporation (NYSE: ARES), where as construction coordinator she supported their construction team with documentation management, technology implementation and process optimization. Prior to that, she spent seven years with Prologis (NYSE: PLD) where she held multiple roles in property and project administration. Rennaker holds a Bachelor of Science in organizational leadership and supervision from Purdue University.

As development associate, Thompson will join Ambrose’s national build-to-suit team in developing and executing projects for clients across the United States. He previously interned with Ambrose prior to receiving his degree from Purdue University. Thompson holds a Bachelor of Science in integrated business and engineering with a minor in real estate finance.  As administrative assistant, Bulmahn will provide overall administrative support to the Ambrose team, including front desk and office management. She holds a bachelor’s degree in communications and media studies from Valparaiso University.

Elevation of key leadership and team members advances the growth of firm’s institutional real estate investment platform

INDIANAPOLIS – Ambrose, a vertically integrated real estate investment manager that specializes in the development and acquisition of Class A industrial, logistics and e-commerce real estate, announced today the promotion of several team members within its organization. These elevations come as Ambrose positions its investment platform to capitalize on strategic growth opportunities amid challenging market dynamics.

“As Ambrose continues to grow and evolve, these promotions reflect the incredible talent and leadership within our organization,” said President and Chief Investment Officer Jason Sturman. “Each of these individuals has played a pivotal role in our success, and their new positions will enable us to continue building on our solid foundation of strategic deployment, value creation and operational excellence. Despite the current market challenges, Ambrose remains strong, well-positioned and forward-focused in providing best-in-class value and exceptional experiences for both our investor and tenant clients. We are excited to see how their leadership will continue to shape our future as we strengthen our presence and capabilities across the nation.”

The following Ambrose team members have been promoted:

Grant Goldman has been promoted to executive vice president and chief operating officer. Since joining Ambrose in 2016, Goldman has been an instrumental leader in growing the company into a national, institutional investment manager and industrial real estate developer. Under his leadership, the firm has executed 28 million square feet in development and acquisitions totaling more than $3 billion in total project costs. In this new role, Goldman will continue to provide leadership and maintain ultimate responsibility for development operations, asset management, legal, marketing and talent and culture. Prior to Ambrose, he spent more than ten years with Pepper Construction, where he led company growth strategy for their Indiana office. Goldman is a graduate of the Stanley K. Lacey Executive Leadership Series and was named one of Indianapolis Business Journal’s Forty Under 40, as well as Engineering News Record’s (ENR) Top 20 under 40.

Stephen Lindley has been promoted to senior vice president, investments. Upon joining Ambrose in 2021, Lindley immediately demonstrated his ability to source excellent land sites, be a creative deal maker and extend Ambrose’s presence with tenant and broker clients across the Midwest region. In this new role, Lindley will lead deployment and leasing efforts across all Ambrose speculative markets, including the Midwest, Mountain States and Florida. Prior to Ambrose, Lindley spent seven years at Strategic Capital Partners where he led the firm’s office leasing efforts and helped grow the company’s industrial business across the Midwest and Southeast. In 2024, Stephen received the NAIOP Developing Leader of the Year award. He previously served as chapter president of NAIOP Indiana for two terms and in 2022 was named the NAIOP Indiana Developing Leader of the Year, in addition to being named a finalist for the 2022 Indy’s Best and Brightest by Junior Achievement of Central Indiana.

Cody Garrison has been promoted to vice president, development operations. Since joining Ambrose five years ago, Garrison has consistently delivered complex projects for clients across the country autonomously, all while continually exceeding expectations. In this new role, he will lead the planning and execution for Ambrose’s national build-to-suit operations. With more than 10 years of experience, Garrison previously spent nearly four years at Duke Realty, now Prologis (NYSE: PLD) where he executed new industrial facilities throughout the country, including e-commerce, industrial food grade, medical grade and speculative projects.

Katie Wilkins has been promoted to vice president, marketing and communications. Wilkins joined Ambrose in 2020 and has since played an instrumental role in building and elevating Ambrose’s brand and presence within the institutional investment management and commercial real estate industries. Prior to Ambrose, Wilkins spent 10 years in the AEC industry with Pepper Construction, where she led marketing and communications efforts for their Indiana office to support annual sales in excess of $300 million. In this new role, she will continue to provide strategic leadership across brand development, thought leadership and other firmwide initiatives supporting Ambrose’s growth and market presence.

Eric Seamands has been promoted to director of development. With almost 40 years of professional experience, Seamands joined Ambrose in 2019 and has played an invaluable role in the growth of Ambrose’s speculative business throughout Indiana and Ohio, in addition to supporting the firm’s national build-to-suit team on projects in the Pacific Northwest. A registered architect, he spent the first half of his career designing and managing projects in a traditional architecture firm setting before transitioning to commercial real estate development. In this new role, Seamands will oversee the planning and execution of new developments within Ambrose’s speculative markets, including team management and mentoring.

Eric Blount has been promoted to senior development manager. Since joining Ambrose in 2020, Blount has successfully managed both speculative and national build-to-suit projects. With more than 25 years of experience, he previously worked at Simon Property Group (NYSE: SPG), Browning Investments and American Structurepoint. In this new role, Blount will oversee the planning and execution of speculative developments in the Southeast region and projects in various geographies within Ambrose’s national build-to-suit operations.

Clay Smith has been promoted to senior development manager. While at Ambrose, Smith has successfully led projects across the U.S. in both speculative markets and for national build-to-suit clients. He brings nearly 15 years of industry experience having previously worked at Ferguson Construction prior to joining Ambrose in 2021. In this new role, Smith will work within Ambrose’s national build-to-suit team where he will continue to lead complex projects for various tenant clients and contribute to the team’s success.

Noah Smith has been promoted to Senior Capital Markets Associate. Smith joined Ambrose in 2023 and in that time has played a key role in supporting the firm’s investment management business, including investor relations and capital raising. Prior to Ambrose, he spent four years with Deloitte in their audit and assurance practice. In this new role, Smith will continue to contribute to Ambrose’s capital markets team by supporting financial analysis, underwriting, investor relations and other initatives.

Recent developments include ribbon cutting, building completion and groundbreaking in Whitestown, Indiana industrial park

INDIANA – Ambrose is excited to share recent updates to the Indianapolis Logistics Park – Northwest (ILP-NW) in Whitestown, Indiana, marking significant milestones in the development of this state-of-the-art logistics hub.

Kattsafe North America officially moved into its new 93,871-square-foot headquarters in Building II. The company is a leading provider of innovative safety and security solutions, specializing in advanced technology to protect people, property, and assets. The company celebrated with a ribbon-cutting ceremony in March that was attended by representatives from Ambrose, the Indiana Economic Development Corporation and the Town of Whitestown.

The remainder of Building II reached completion in April of this year. The balance of the building – 145,568 square feet – was recently leased to a confidential user, and interior fit-out is currently underway.

Completion has also been achieved on Building III. The 233,000-square-foot building is available for lease with a minimum divisibility of 40,000 square feet. It includes a 2,970-square-foot office, visibility along I-65 and easy access to the Exit 131 diverging diamond interchange at CR 550 South, which was completed in June of 2023.

Given the amount of leasing activity within the park and broader northwest submarket, Ambrose broke ground speculatively on Building IV earlier this month. The 248,000-square-foot building is the last planned development within the park. It will be available for user move-in later this year with expected completion in December.

Construction continues on Building I, a 601,000-square-foot build-to-suit development for Safavieh, a global leader in premium home furnishings. Construction of the building began in September of 2024. Completion is anticipated for July of this year.

“We are proud to welcome Kattsafe North America to their new facilities and look forward to celebrating Safavieh’s upcoming move-in to the park,” said Ambrose Vice President of Development and Midwest Market Officer Stephen Lindley. “While there has been plenty of commentary about today’s industrial real estate market in Indiana, the activity we’re seeing at Indianapolis Logistics Park- Northwest demonstrates that demand is still strong for the right opportunities. Ambrose is proud to be among the few developers actively delivering projects and making deals happen despite current headwinds.”

Indianapolis Logistics Park – Northwest is located in Whitestown, Indiana, one of the state’s fastest-growing communities. The park is located directly off of I-65 and offers immediate access to the interstate via the Exit 131 diverging diamond interchange at CR 550 South.

The general contractor for all four buildings is Compass Commercial Construction Group. Design partners include Curran Architecture and Kimley-Horn. The Indianapolis office of CBRE is handling marketing and leasing for the park. Ambrose partnered with Horizon Bank on the construction loan for Buildings II through IV. Total investment in the park exceeds $120 million.