Posts by Liza Adler
VERDEX CONSTRUCTION AND INDEX INVESTMENT GROUP BUY WEST PALM BEACH OFFICE FOR $13.4 MILLION
WEST PALM BEACH, FL. (November 29th, 2021) – Verdex Construction and Index Investment Group formed District Pointe LLC, a joint venture to purchase a 65,760 square foot office building in West Palm Beach for $13.4 million. Located at 1501 Belvedere Road in West Palm Beach, the property has operated as a single-tenant user since its construction in 1983 and has been occupied by its former owner Rinker/CEMEX.
The building will be rebranded as District Pointe and completely renovated into a state-of-the-art, modern office hub for large-scale office tenants and the new U.S. headquarters for Verdex Construction. The name was derived from its position as the gateway location between the revitalized West Palm Beach Warehouse District and the Palm Beach International Airport. The property was purchased off-market with the help of the team at Colliers with Executive Managing Director Mark M. Rubin and Director Bastian Laggerbauer, the closing was handled by John Renaldo of Jupiter Inlet Title.
“This strategic investment into West Palm Beach provides the new headquarters for Verdex and space for multiple Class A office tenants while opening up to the possibility of developing multifamily residential on the excess land. We are very excited about this opportunity.” said Bjarne Borg, Chairman and CEO of Index Investment Group.
“We are thrilled about the continued growth of our company in this phenomenal location with proximity to the Palm Beach International Airport and direct access to I-95 and the West Palm Beach area. We look forward to further revitalizing the area and building the community” said Rex Kirby, Chief Executive Officer and founder of Verdex.
About Index Investment Group
Index Investment Group is a privately held company with its North American Headquarters located in Jupiter FL, founded in Sweden by Bjarne Borg and Fredrik Alama in 1998. The company has made numerous significant investments in multifamily rental communities, senior living as well as industrial/logistics facilities along the East Coast of the United States. The Jupiter-based real estate investment company has ongoing and completed 33 developments in the U.S. with over 8,400 units and over 6.8 million square feet of commercial space across Sweden and the U.S.
About Verdex Construction
Verdex Construction was founded by Rex B. Kirby, Jr. a 40-year veteran of the construction industry. In just seven years, Verdex Construction has earned numerous awards and prestigious industry recognition, including the #9 spot on the South Florida Business Journal’s Top Contractors List. Verdex Construction’s recent projects include Canopy by Hilton West Palm Beach Downtown; 1000 North, an upscale restaurant/club on the Loxahatchee River in Jupiter; Town Lantana Apartments in Lantana and Westshore Apartments in Tampa.
VERDEX CONSTRUCTION BEGINS PARK VIEW AT PALMETTO BAY
West Palm Beach-based Verdex Construction was selected by Atlantic Realty Partners to build Park View at Palmetto Bay, a 235-unit multifamily apartment community at 9500 SW 174th St. in Palmetto Bay, FL. Construction is underway with completion expected in May 2022. The project was designed by MSA Architects of Miami.
The five-story community consists of studio, one-, two-, and three-bedroom apartments totaling 431,000 sq. ft. on a 3.65-acre site. The apartments will wrap around a five-story, 371-space parking deck that will allow residents easy access to their units. Amenities include a pool, barbecue area, dog spa, fitness club, and clubroom. Parkview will also contain 1,380 sq. ft. of retail space that will serve local residents and visitors.
“As with our recent Canopy Hotel and Watermark Senior Living projects in Downtown West Palm Beach, this project will be built on a very tight site requiring infill expertise, detailed traffic coordination and local neighborhood communication,” said Rex Kirby, President of Verdex Construction. “This is our second project for Atlantic Realty, and our second in Miami-Dade County as we continue to expand our operations across Florida.”
Verdex Construction’s recent projects throughout South Florida include the Canopy by Hilton West Palm Beach Downtown; 1000 North, an upscale restaurant/club on the Loxahatchee River in Jupiter; and Town Lantana Apartments in Lantana.
In just over five years, Verdex has earned numerous awards and prestigious industry recognition, including being selected as a finalist for 2020 Business of the Year by the South Florida Business Journal, finalist for 2020 Business of the Year by the Chamber of Commerce of the Palm Beaches, and being selected as a GrowFL “Company to Watch”.
About Verdex Construction
Verdex Construction is a privately held building contractor based in West Palm Beach, FL, led by founder and President Rex Kirby, a 40-year veteran in the construction business. Verdex provides general contracting services to clients including preconstruction, construction management, and design-build. Verdex is committed to “Building Something Better” through exceptional service, a fundamental focus on safety and quality, and value to owners, customers and the community. For more information, visit www.verdex.com