FINFROCK ACQUIRES GLADES GATEWAY COMMERCE PARK PROPERTY

Deal paves way for new multi-million-dollar project set to bring 200 higher-wage jobs to Belle Glade region and $242 million in economic impact

BELLE GLADE, Fla. (March 19, 2021) – FINFROCK, the only vertically integrated design-builder and manufacturing company of its kind in the industry, ushered in an exciting new chapter in the company’s history with the announcement today that it has closed on the $36 million purchase of the 94-acre Glades Gateway Commerce Park in Belle Glade, Florida. The Central Florida-based company will build more than 140,000 sq. ft. of precast concrete manufacturing facilities and administrative offices on the property.

FINFROCK executives recently gathered with local leaders and the community to share plans for the site and introduce the company’s leading edge DualDeck Building System, which is FINFROCK’s unique brand of offsite construction that allows projects to be completed significantly faster than with traditional construction methods. The project is expected to have a $242 million economic impact on the region and create 200 new higher-wage jobs.

“The Business Development Board of Palm Beach County, the county, Belle Glade and the Glades District have been amazingly resourceful throughout this process, which was ultimately one of the many reasons we chose this site for long-term investment,” said President Bill Finfrock. “We see tremendous potential in Palm Beach County, and we feel confident that by hiring locally, we will empower members of the community to excel in life-long careers at FINFROCK. We have a history of providing our employees with safe working environments and leadership training opportunities, while also offering educational programs to students who are interested in building careers in STEM-related industries.”

FINFROCK will now begin the complex process of clearing the site for construction. This new South Florida facility will be within closer proximity to developers in Palm Beach, Dade, Broward and Southwest Florida counties, allowing FINFROCK to offer precast/prestressed concrete design, manufacturing and construction solutions more efficiently and cost-effectively to local clients.

“People want to work. They want good paying jobs. FINFROCK recognized the immense potential of the Glades. Their decision to locate here is the beginning of a tremendous economic spark for the region. This happened because of the strong public-private relationship between the County, the City of Belle Glade, our educational partners and the Business Development Board. When we all work together, good things happen. Finfrock believed in these relationships, too, and we welcome them to the Glades,” said Palm Beach County Commissioner Melissa McKinlay.

“When people ask me why this deal is important to Belle Glade, it’s simple, we have to put people to work, it’s the American way.  The right thing for the Glades community is jobs, jobs, jobs,” noted Belle Glade Mayor Steve Wilson.

In business for 75 years, FINFROCK has earned the reputation as a design-build industry leader, offering clients unrivaled services through its unique and patented building system, commitment to innovation, and expert team of engineers, architects and designers. With all services from start to finish fully integrated under one roof, FINFROCK can efficiently deliver commercial, multifamily and mixed-use projects, cost effectively and at low risk.

Known as the nation’s largest design-builder of parking structures, FINFROCK has designed and built more than 27 million square feet of parking; 300 garages nationwide; and one quarter of a million parking stalls. In addition to parking structures, FINFROCK continues to design and build commercial, multifamily and mixed-use projects and will focus on building more of these in southeast and southwest Florida. FINFROCK’s high-profile clients include many of Florida’s universities, hotels, hospital systems and municipalities.

“We are excited to offer unique opportunities to utilize precast/prestressed concrete in the South Florida market,” added CEO Allen Finfrock. “Our concrete product and advanced capabilities are ideal for this market. Not only is precast/prestressed concrete aesthetically versatile, low maintenance and environmentally friendly, but it is also resilient, offering superior protection in natural disasters like hurricanes. We look forward to working closely with local developers and educating them on the exciting new possibilities we can bring to the table.”

About FINFROCK

FINFROCK is a private, independently owned company that utilizes proprietary technology to design and build structured parking, hotels, student housing, office buildings, multi-unit residential complexes, and mixed-use facilities. FINFROCK’s in-house architects, engineers, precast designers, cost estimators, quality control personnel, and construction managers specialize in design, manufacturing, and construction and allow FINFROCK to serve as a single point of contact for our customers.  Lowering both cost and risk for owners, FINFROCK is the only vertically integrated design-builder of its kind in the industry. Founded in 1945 and headquartered on a 93 acre complex in Apopka, Florida, FINFROCK has been serving customers in Florida and select locations nationally for over 75 years.  FINFROCK is also the recipient of multiple awards for innovation and design excellence. Visit our website to learn more: www.finfrock.com.

About Business Development Board

The Business Development Board of Palm Beach County is the official public/private economic development organization for Palm Beach County and Enterprise Florida. Founded in 1982 as a not-for-profit corporation, corporate relocations, expansions and international trade. During the past five years, the BDB has assisted companies that have created more than 12,822 direct jobs with average salaries greater than $69,062, resulting in more than $777 million in capital investment to Palm Beach County and an economic impact that exceeds $6.87 billion. Additional information can be found at the BDB’s web site, www.BDB.org.