PTM Partners and Hernandez Development & Construction have purchased an 8.13-acre development site at 8530 Belvedere Road in West Palm Beach, Florida, for $11.5 million. The site is slated for redevelopment as Palm Beach Commerce Center, a 93,556-square-foot Class A industrial project. Planned features include 32-foot clear heights, 22 dock doors, and more than 180 feet of building depth, designed to accommodate modern logistics and distribution users. The parcel had previously received approvals for retail, gas station, and daycare uses, but the ownership group is shifting the plan to industrial to better align with ongoing demand for logistics and distribution space in Palm Beach County.
The change in direction for the West Palm Beach site underscores how user demand is influencing land use decisions. Rather than moving forward with smaller-scale service and retail components, the developers are consolidating the site into a single industrial facility that can capture distribution-oriented tenants. The project is positioned to serve regional occupiers seeking modern loading, clear height, and depth characteristics that are increasingly standard for Class A industrial space. The transaction also reflects investor appetite for industrial development opportunities in supply-constrained, infill locations where entitlements are already in place and can be adapted to higher-demand uses.
In a separate move on the public sector and legal front, former Miami Beach City Manager Jimmy Morales has joined Bilzin Sumberg as Special Counsel. He is now part of the firm’s Land Development & Government Relations Group. According to the firm, his addition is intended to enhance its capabilities for clients engaged in significant transactions, strategic initiatives, and government-related matters. His experience in municipal leadership is expected to be applied to regulatory issues, entitlement processes, and growth-oriented planning efforts for clients.
On the multifamily and mixed-use development side, Wood Partners has appointed Micah Conn as Managing Director of its South Florida office. Conn will be responsible for the full development cycle across the region, including deal origination, entitlements, design, capitalization, and construction management. With more than two decades of multifamily and mixed-use experience, he most recently served as senior vice president of development at AvalonBay Communities, where he oversaw complex residential-focused projects.
Leadership changes also continue in the hospitality and mixed-use investment space. Miami-based Gencom Real Estate has promoted Donald McGregor to President of Gencom Real Estate. In this role, he will oversee execution of the firm’s strategies spanning development, construction, and asset management. His mandate covers the full investment lifecycle, from acquisition through stabilization and eventual exit, with a focus on disciplined execution and long-term portfolio value creation.
