Armata Holdings, an affiliate company, has acquired The Warehouse District in West Palm Beach for $19.5 million from Asana Partners. The cluster of warehouses located at Elizabeth and Clare Avenues has been reconfigured to accommodate various types of businesses such as retail stores, offices, and food and beverage operators.
According to the South Florida Business Journal, Citizens Bank provided a mortgage worth $11 million to the buyer. This is not the first time that The Warehouse District has changed hands; it was previously sold for $18.5 million in 2018.
The warehouses were originally built between 1950 and 1974 on a 3.4-acre site with a total space of approximately 73,000 square feet. They were recently renovated by their previous owner Johnson Capital Partners who also brought in several food and beverage tenants.
Some notable tenants at 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.
