Ambrose completes lease-up of 246,000-square-foot industrial asset in Palm Beach
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.”