WPB’s Warehouse District Fetches $218 PSF

Jan 01, 2019 No Comments by

The Warehouse District, a series of older industrial buildings in West Palm Beach that were converted into creative, food and beverage space, sold for $18.5 million.

The six buildings totaling about 85,000 square feet, including 300 Elizabeth Avenue, 1220 Elizabeth Avenue,1400 Elizabeth Avenue, 1500 Elizabeth Avenue, 1401 Clare Avenue and 1615 Clare Avenue were sold by Johnstone Capital Partners affiliates Johnstone Dixie Partners. The buyer was AP Warehouse District, an affiliate of Charlotte, North Carolina-based Asana Partners.

The deal was brokered by Holliday Fenoglio Fowler’s Eric Williams, Manny de Zárraga, Daniel Finkle and Luis Castillo.

The purchase price equates to $218 per square foot.

The warehouses were built between 1925 and 1968. The district is home to the 14,000-square-foot Grandview Public Market, a food hall that includes Celis Produce, Clare’s Chicken, Cholo BBQ, Zipitios, Crema, Pumphouse Coffee Roasters, and Poke Lab Eatery. Other tenants include the Steam Horse Brewery, retail market Elizabeth Ave Station, the Palm Beach Squash Club, Brain and Barrel Spirits, co-working space District Workspaces, Steel Tie Spirits, Gypsy Life Surf Shop, IT consulting firm VXIT, and motorcycle shop Burn Up Co.

 

Source:  SFBJ

 

 

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Industrial / Flex, Industry News, NA, Palm Beach County Industrial / Flex, Palm Beach County Retail, Retail
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