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An affiliate of Vecellio Group broke ground on an industrial park near West Palm Beach after obtaining a $52.65 million construction loan.

United Bank of Charleston, West Virginia provided the mortgage to 101 Sansburys Way LLC, an affiliate of Vecellio Group, a construction materials firm and contractor. It covers the 32.8-acre site at the same address, which is on the north side of Southern Boulevard, just west of Florida’s Turnpike.

Fort Lauderdale-based Hernandez Construction recently filed notice with Palm Beach County that it started work on the project. The site was approved for three warehouses for a combined 435,800 square feet. The first phase is a 165,000-square-foot warehouse with 32-foot clear height.

The developer is working with Fort Lauderdale-based Helms Development on the project.

According to the fourth quarter report from Colliers, the Palm Beach County industrial market had a 3.2% vacancy rate, down from 3.6% a year earlier, amid 949,211 square feet of positive absorption over the year. There was 548,824 square feet under construction, so there was certainly room for more buildings based on the pace of absorption.

 

Source: SFBJ

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An affiliate of Vecellio Group plans to redevelop its construction materials site near West Palm Beach to build distribution warehouses.

The Palm Beach County Zoning Commission will consider several applications for the 32.8-acre site at 101 Sansburys Way on Feb. 4. The property, owned by Vecellio Group subsidiary 101 Sansburys Way LLC, currently has about 66,000 square feet of warehouses and storage yards for the company’s construction equipment. It’s on the north side of Southern Boulevard, just west of Florida’s Turnpike.

(IMAGE CREDIT: HELMS DEVELOPMENT)

The applicant wants to rezone the southern portion of the property from “commercial” to “industrial” and have a site plan approved for three warehouses totaling 435,800 square feet. There would be 535 parking spaces and 130 loading spaces.

Scott Helms, of Fort Lauderdale-based Helms Development, represents Vecellio Group as the development partner of the project.

 

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