Woodmont, Butters Partnership Fully Leases 75,000-Square-Foot Lake Worth Industrial Property

Woodmont Industrial Partners (Woodmont) and Butters Construction & Development (Butters), announced the full lease-up of 7th Avenue Logistics, the newly completed 75,989-square-foot Class A warehouse and distribution center in Lake Worth. The three tenants, Foundation Building Materials, Storm Smart and 3 Brothers of Palm Beach, took 50,283 square feet, 17,775 square feet and 7,931 square feet, respectively.

“We felt the timing was right to build a Class A warehouse that was positioned well for smaller tenants, with excellent access to I-95 in Lake Worth,” said Adam Vaisman, Director of Acquisitions of Butters. “The project was fully leased before building completion, which proved our hypothesis. This was in large part due to the excellent collaboration between our group and Woodmont, as we continue to grow our successful relationship and portfolio in the South Florida MSA.”

Located at 1939 7th Avenue, the property features 24’ clear height, 14 loading docks, two drive-in doors and ample surface parking stalls. Located in Central Palm Beach County, the site provides immediate access to I-95 and other major South Florida road arteries including the Florida Turnpike and Dixie Highway, as well as Palm Beach International Airport and the Port of Palm Beach.

Woodmont and Butters began construction of 7th Avenue Logistics in February 2023. Butters Realty & Management brokers Thomas J. Hotz and Paul Shooster were successful in fully leasing the building.

“7th Avenue Logistics’ rapid lease-up illustrates the unwavering demand for high-quality industrial space in Palm Beach County,” said Anthony Amadeo, Executive Vice President of Woodmont. “This well-located building represents Woodmont’s sixth collaboration with our valued partner Butters in the last two years, and we’re appreciative of their tremendous efforts across construction, negotiation and pre-leasing that contributed to the project’s success. With South Florida’s strong population growth, Palm Beach County consistently presents robust opportunities for new development and we look forward to advancing our strategic growth in the region.”

Woodmont has executed several key acquisitions and groundbreakings in South Florida over the past year. Most recently, the team began two additional construction starts — also in partnership with Butters — for a 300,000-square-foot Class A industrial facility at 15430 Corporate Road North in Jupiter and a project in Fort Myers that will yield 2.1 million square feet across 14 buildings delivered over the next three years. Woodmont and Butters also celebrated the completion of the Corporate Logistics Center, a 252,848-square-foot, ground-up industrial building in the Palm Beach Park of Commerce in November 2023, where the team is developing over 2 million square feet.

With Amadeo and Executive Vice President of Florida Lewis Zlotnick at the helm, Woodmont remains active in the South Florida market. The company’s activity in New Jersey, New York, Pennsylvania and Texas also remains steadfast with approximately 6 million square feet of industrial space in its active pipeline for development and/or renovation.