News
Boca Raton, Fla. (April 17, 2025) – Foundry Commercial’s South Florida Development & Investments (D&I) team has been honored as Developer of the Year by NAIOP South Florida as part of the association’s 2025 Awards of Excellence. The annual awards recognize outstanding achievements across the South Florida commercial real estate industry, celebrating organizations that demonstrate innovation, impact, and leadership.
Foundry Commercial’s recognition as Developer of the Year is a testament to its ability to identify and execute on development and investment opportunities, even in challenging market conditions. Over the past year, Foundry has developed or completed over 2.66 million square feet of commercial space in South Florida, leveraging creative debt and equity strategies to navigate economic headwinds successfully.
A prime example of Foundry’s innovative approach is its office-to-industrial redevelopment strategy. Foundry has been at the forefront of converting underutilized office properties into high-demand industrial spaces. Recently, in partnership with Wheelock Street Capital, Foundry acquired a 126,000-square-foot office building at 3800 South Congress Avenue in Boynton Beach from Baptist Health. The site is being transformed into Egret Point Logistics Center, a 457,000-square-foot Class-A industrial warehouse project, exemplifying Foundry’s ability to maximize asset value through strategic redevelopment. Foundry anticipates construction of Egret Point Logistics Center will be complete this summer.
Additionally, Foundry’s Deal Hub, based in South Florida, has played a pivotal role in supporting the company’s Development & Investments platform. With a team of 10 analysts and deal professionals, the Deal Hub enhances Foundry’s capacity for data-driven decision-making, further reinforcing its leadership position in the industry.
“This industry recognition is a testament to the hard work, creativity, and dedication of our South Florida team. Their ability to push forward, uncover new opportunities, and execute strategic projects – even in the face of economic uncertainty – has been inspiring. We are incredibly proud of the momentum we’ve built and look forward to continuing our impact in the South Florida market,” said Pryse Elam, Chief Investment Officer.