New West Palm Beach Warehouse Project Hits Financing Milestone
Pinnacle Financial Partners provided a $17.3 million construction loan to Hernandez Development & Construction and PTM Partners for Palm Beach Commerce Center, a planned 93,556-square-foot industrial building in West Palm Beach. The joint venture bought the 8.1-acre development site for $11.5 million in April 2026 and began site work in October. The project is slated for completion in the third quarter of 2027.
Warehouse Design and Leasing
The dock-high, tilt-up building will devote 84,200 square feet to warehouse space and 9,356 square feet to offices. Plans call for 32-foot clear heights and 54-foot column spacing.
At just under 94,000 square feet, the project will add a warehouse option for West Palm Beach users that need room for both inventory and on-site office staff. The clear height gives prospective tenants room for vertical storage, while dock-high loading accommodates truck deliveries.
Hernandez Development Services is the developer, Hernandez Construction is the general contractor and CBRE is handling leasing.
Key Facts
- Property: Palm Beach Commerce Center
- Location: West Palm Beach, Florida
- Asset Type: Dock-high industrial warehouse with office space
- Transaction Type: Construction financing
- Borrowers: Hernandez Development & Construction and PTM Partners
- Financing: $17.3 million construction loan from Pinnacle Financial Partners
- Developer: Hernandez Development Services
- General Contractor: Hernandez Construction
- Size: 93,556 square feet, including 84,200 square feet of warehouse space and 9,356 square feet of office space
- Site Acquisition: 8.1 acres purchased for $11.5 million in April 2026
- Building Specs: 32-foot clear height and 54-foot column spacing
- Leasing: CBRE
- Project Schedule: Site work began in October 2026, with completion expected in Q3 2027
Source: RE Business