PTM Partners and Hernandez Development & Construction Acquire West Palm Beach Site for $11.5M Industrial Development
Posted August 3, 2026
WEST PALM BEACH, FL — PTM Partners and Hernandez Development & Construction have acquired an 8.13-acre development site at 8530 Belvedere Road in West Palm Beach for $11.5 million. The partners are developing Palm Beach Commerce Center, a planned 93,556-square-foot Class A industrial facility featuring 32-foot clear heights, 22 dock doors, and more than 180 feet of building depth.
Previously approved for retail, gas station, and daycare uses, the site is being repositioned to meet continued demand for logistics, distribution, and light industrial space in Palm Beach County. Hernandez Development & Construction is serving as developer and general contractor on the project.
“Demand for well-located industrial assets continues to outpace supply across South Florida,” said Michael Tillman, CEO and co-founder of PTM Partners. Alex Hernandez, CEO of Hernandez Development & Construction, noted the project is designed to deliver right-sized suites for local and regional operators.