An Atlanta-based industrial investment group bought a newly built warehouse in the Palm Beach Park of Commerce in a $27.2 million deal.
MDH Partners bought the 218,000-square-foot building at 15335 Park of Commerce Boulevard and about 6 acres of vacant land at 15200 Corporate Road South, just south of the warehouse, according to records.
An affiliate of TPA Group sold the properties. TPA, also based in Atlanta, is led by J. Bradford Smith. Earlier this year, in a separate deal, TPA sold land leased to Amazon at the Palm Beach Park of Commerce for about $22 million.
The Palm Beach Park of Commerce is a 1,300-acre business park, home to Walgreens, General Motors, Niagara Water, McLane and Kelly Slater Surf Ranch.
The warehouse that MDH bought is building 25 of the business park. It still has 71,000 square feet of space available for lease for $7.25 per square foot, according to an online listing. The building has 36-foot-high clear ceilings. Tenants include Spartan Motors and Niagara Bottling.
MDH is led by Jeff Small Jr., who is also an author and speaker, according to his website. Last year, MDH made its first purchase in Miami, paying $8.9 million for a warehouse in Liberty City.
Other recent Palm Beach County industrial sales include The Easton Group selling a warehouse in Royal Palm Beach for $15.5 million, and Dalfen Industrial paying $18.35 million for a Riviera Beach warehouse leased to FedEx.