West Palm Beach Warehouse District Sells for $19.5M

An affiliate of Armata Holdings purchased The Warehouse District in West Palm Beach for $19.5 million. The cluster of warehouses at Elizabeth and Clare Avenues has been reconfigured to accommodate retail, office and food and beverage operators. Asana Partners was the seller.

The S. Florida Business Journal reports Citizens Bank provided a $11 million mortgage to the buyer. The Warehouse District last traded for $18.5 million in 2018.

The warehouses, which contain 73,000 square feet of space, were built on the 3.4-acre site between 1950 and 1974. Their previous owner, Johnson Capital Partners, renovated them and brought in food and beverage tenants.

Tenants include the Warehouse District include Steamhorse Brewing CO., Steel Tie Spirits Co., Grandview Public Market, Isla & Co., Game of Axes, John Wine Tasting Room, Gypsy Life Surf Shop and Palm Beach Squash Club.

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