The past year has been the best in Butters Construction & Development’s 32-year history.
The firm, led by CEO Malcolm Butters, has been involved in developing industrial projects totaling 5 million square feet with a value of over $1 billion.
The diversified developer is active in Miami-Dade, Broward, Palm Beach, Polk and Sanford counties, with projects in multiple commercial sectors, including industrial, office and hotel.
To Butters’ name are the largest new industrial developments in Palm Beach County. These include the 150-acre Palm Beach Park of Commerce, with 1.7 million square feet to be developed; the 25-acre West Atlantic Avenue project, with 285,000 square feet to be developed; and 6 acres in Lake Worth, with 75,000 square feet to be developed.
In Miami, the projects include Midpoint Logistics, an 18-acre, 300,000-square-foot industrial space budgeted at $45 million; Miami Midway, a mixed-use 500,000-square feet industrial, 360-unit apartment project; and First Miami, a 125-acre, 2.5 million-square-foot industrial project estimated at $400 million upon buildout. In Broward, his Pompano Crossroads, Tamarac Exchange and Hillsboro Technology Center account for 153 acres and 1.7 million square feet of space.
The superlatives reach beyond South Florida. Butters is developing the largest industrial park in Southwest Florida, the 300-acre Gulf Landing & Logistics Park, which will deliver 2.4 million square feet at a cost of $350 million upon buildout.
Butters’ partners are a who’s who on Wall Street: First Industrial, Blackrock, Blackcreek, Bristol Group, Woodmont Industrial, Blackstone, Canyon, Bentall Green Oaks, Dalfen Industrial/Goldman Sachs and McCraney Properties.
With its current list of ongoing projects, and Florida’s ongoing demand for industrial projects, it’s possible Butters’ 33rd year could even outpace its 32nd.
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