BBX Logistics & PCCP Kickstart Construction on 40-acre Delray Beach Industrial Park

BBX Logistics Properties, in partnership with PCCP LLC, has commenced construction on The Park at Delray, a 40-acre campus located in Delray Beach, Florida. The first phase of the project will feature a 200,000-square-foot building.

Project Details and Location

The Park at Delray is situated north of Atlantic Avenue on U.S. 441 in western Palm Beach County. The completed development will consist of three buildings, totaling over 670,000 square feet.

Strategic Positioning and Market Appeal

Mark Levy, president of BBX Logistics Properties, emphasized that the project's success is bolstered by its strategic location, strong residential growth within a 10-mile radius, and positioning in a rapidly expanding market. Levy highlighted the scarcity of available properties in this desirable area, making The Park at Delray an attractive option for buyers and investors seeking prime real estate.

Timeline and Future Phases

Phase One is scheduled for completion by mid-2025, with the second phase of development expected to begin early next year.

Development Partnership and Financing

BBX Logistics and PCCP initiated their partnership for this project in September, with City National Bank providing a $31.3 million construction loan. CommercialEdge data indicates that Buildings 2 and 3 will each offer approximately 196,500 square feet.

Sustainability and Tenant Flexibility

The developers are incorporating sustainability features into the industrial park, including solar-ready roofing, enhanced indoor air quality, exterior lighting control systems, and EV charging stations. Phase One will be able to accommodate tenants with spaces starting at 50,000 square feet, with flexible configurations in subsequent phases to suit smaller users.

Market Growth and Opportunities

Levy highlighted South Florida's status as one of the fastest-growing markets in the country, characterized by a booming economy, increasing population, and vibrant real estate market. He believes The Park at Delray will benefit from this dynamic environment, attracting businesses, residents, and investors looking to take advantage of the region's growth.