BBX Logistics Properties Celebrates Groundbreaking Of 40-Acre Industrial Park

BBX Logistics Properties, a logistics development firm specializing in identifying high barriers to entry, infill locations in Florida and other Eastern U.S. markets and a wholly-owned subsidiary of BBX Capital Real Estate celebrated the groundbreaking of The Park at Delray, a new 40-acre industrial park, on Thursday, May 30.

The event marked the commencement of construction on the much-anticipated industrial park, located north of Atlantic Avenue on U.S. 441 in Delray Beach.

The initial phase of the project includes the construction of a 200,000-square-foot building, with plans for two additional buildings to follow. This phase can accommodate tenants seeking spaces as small as 50,000 square feet. The Park at Delray is a joint venture with PCCP, LLC, and the construction is supported by a $31.3 million loan from City National Bank.

Various representatives from BBX Logistics Properties along with local elected officials, spoke at the event, including Mayor Maria Sachs, Commissioners Mack Bernard, Gregg Weiss, Sara Baxter, and Marcy Woodward.

Seth Wise, Chairman of BBX Logistics Properties and President of BBX Capital Real Estate, expressed his excitement: “The Park at Delray represents a significant step forward for our company and the local community. We are committed to developing state-of-the-art logistics facilities that meet the evolving needs of commerce and contribute to the economic growth of the region.”

 

Mark Levy, President of BBX Logistics Properties, added, “This project is the result of extensive collaboration and planning. We are proud to be part of a venture that will create well-paying jobs, enhance the local economy, and respect the environmental integrity of the AG Reserve. We look forward to seeing the positive impact it will have on the community.”

 

“This is a game changer,” said Palm Beach County Commissioner Gregg Weiss. “I applaud BBX Logistics Properties for developing a project that meets a need in the region’s economy. I also praise them for a design that minimizes negative impacts on the surrounding area.”