Industrial – Cushman & Wakefield South Florida

Cushman & Wakefield Represents Bristol Group in $24M Sale of ‘Last-Mile’ Distribution Center in Miami

Amazon, Packaging Corp. of America Among Tenants at Fully Occupied 201,459-SF Facility; Buyer is Dalfen Industrial MIAMI, March 12, 2019 – On behalf of San Francisco-based Bristol Group, Inc., Cushman & Wakefield has arranged the sale of a 201,459-square-foot, last-mile distribution center in Miami’s North Central submarket for $24 million. The multi-tenant facility is 100 percent occupied by such notable tenants as Amazon, Packaging Corporation of America and DaVita Healthcare. The Cushman & Wakefield Investment Sales Team of Vice Chairman Mike Davis, Executive Director Rick Brugge, Executive Director Wayne Ramoski and Director Gian Rodriguez represented Bristol Group, a national private real estate investment and development firm, in the disposition. The buyer is Dalfen Industrial, a real estate investment manager that specializes in the acquisition, development and operation of industrial property across the United States and Canada. The warehouse facility sits on 10.25 acres at 15600 NW 15th Ave., within Sunshine [...]

Jim McAleese2019-03-13T13:32:50-04:00March 12th, 2019|Capital Markets, In the News, Industrial, Press Release|

Bridge Development Partners Taps Cushman & Wakefield to Lease Bridge Point Miramar

Cushman & Wakefield Also Arranged the Sale and Financing of the 304,428-Square-Foot Distribution Center MIRAMAR, FL, March 4, 2019 — Cushman & Wakefield has been named exclusive leasing advisor for Bridge Point Miramar, a 304,428-square-foot distribution center in Broward County. The Cushman & Wakefield South Florida Industrial Team of Chris Metzger, Richard F. Etner, Jr., Christopher Thomson and Matthew G. McAllister will lease the building on behalf of Bridge Development Partners. Bridge Development Partners recently acquired Bridge Point Miramar from Sherm Realty Corporation, an affiliate of Weston, FL-based Apotex Corp and will invest $6 million to upgrade the building. A Cushman & Wakefield Capital Markets team comprised of Mike Davis, Metzger and Etner, Jr., arranged the $38 million transaction. Jason Hochman and Chris Lentz, of Cushman and Wakefield’s Equity, Debt and Structured Finance Group worked on behalf of Bridge to secure a $32.7 million loan from Heitman Capital Management. “Upon the completion of our multimillion-dollar investment to further enhance this facility’s offerings, Bridge Point Miramar will be a [...]

Jim McAleese2019-03-13T12:23:24-04:00March 4th, 2019|Capital Markets, In the News, Industrial, Press Release|

Cushman & Wakefield Represents R.T. Milord Co. in $6.65M Sale of Boynton Beach Light Industrial Building

The Team of Greg Miller, Scott O’Donnell, Dominic Montazemi and Miguel Alcivar Negotiated the Sale of 3600 South Congress Avenue to KVA Congress LLC BOYNTON BEACH, FL, February 25, 2019 — Cushman & Wakefield has negotiated the sale of 3600 South Congress Avenue, a 47,626-square-foot, multi-tenant light industrial building in Palm Beach County. The Cushman & Wakefield Capital Markets team of Greg Miller, Scott O’Donnell, Dominic Montazemi and Miguel Alcivar negotiated the sale on behalf of R.T. Milord Co. of Bridgeview, IL. Jupiter, FL-based KVA Congress, LLC acquired the asset for $6.65 million ($140 per square foot). “KVA Congress, LLC recognized that 3600 South Congress Avenue provided a rare opportunity to acquire a well-maintained and functional industrial asset with proximity to both Boynton Beach and Delray Beach,” said Miller. “There are excellent demand drivers within this micro-market. And, when combined with limited light industrial supply, continued potential for robust rent growth should be realized well into the future.” 3600 South Congress Avenue was developed [...]

Jim McAleese2019-03-13T13:23:21-04:00February 25th, 2019|Capital Markets, In the News, Industrial, Press Release|

Cushman & Wakefield Represents Prologis in ±96,000-SF Lease with Fairn & Swanson, Inc.

Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew McAllister Represented Ownership in Lease Renewal Negotiations POMPANO BEACH, FL, February 22, 2019 — Cushman & Wakefield has negotiated a 95,540-square-foot warehouse and distribution lease renewal with Fairn & Swanson, Inc. at 701 NW 33rd Street in Broward County. The Cushman & Wakefield South Florida Industrial Team of Christopher Metzger, Richard F. Etner, Jr., Christopher Thomson and Matthew G. McAllister represented building owner Prologis (NYSE:PLD) in the renewal negotiations. The Cushman & Wakefield Team worked in conjunction with Prologis Senior Leasing Manager Barbara Mantecon. “Our strategically located properties and internal property management continue to have unparalleled value for our customers,” said Mantecon. Oakland, CA-based Fairn & Swanson, Inc. was founded in 1949 and supplies travelers with a wide variety of retail products including food, beverages, personal care products, fragrances and accessories. The company distributes these products globally via cruise lines, commercial shipping ports, international border crossings, overseas military installations and diplomatic offices. The company has warehouses and [...]

Jim McAleese2019-03-13T13:12:50-04:00February 22nd, 2019|In the News, Industrial, Press Release|

Cushman & Wakefield Negotiates 52,505-SF HQ Renewal with Quantachrome Instruments at Boynton Commerce Center

The Team of Christopher Thomson, Chris Metzger, Richard F. Etner Jr. and Matthew G. McAllister Negotiated a Long-Term Lease with the Lab Equipment Manufacturer BOYNTON BEACH, FL, February 13, 2019 — Cushman & Wakefield has negotiated a 52,505-square-foot headquarters lease renewal with Quantachrome Instruments at Boynton Commerce Center in Palm Beach County. The Cushman & Wakefield South Florida Industrial Team of Christopher Thomson, Chris Metzger, Richard F. Etner, Jr. and Matthew G. McAllister represented Boynton Commerce Center, LLC, an affiliate of building owner Principal Life Insurance Company, in the renewal negotiations. Quantachrome Instruments was represented by Robert Smith of CBRE. Quantachrome Instruments was founded in 1968 and is headquartered at 1900 Corporate Drive in Boynton Commerce Center. The company has emerged as a global leader in the design and manufacture of lab instruments capable of characterizing porous materials and powders. Quantachrome employs 170 people in the building in research, development and production roles. In February 2018, Quantachrome was acquired by the Anton Paar Group, an Austrian [...]

Jim McAleese2019-02-21T15:05:50-04:00February 13th, 2019|In the News, Industrial, Press Release|

Cushman & Wakefield Negotiates Cabot Properties’ $25.8M Acquisition of Palm Beach Distribution Portfolio

The Team of Christopher Thomson, Chris Metzger, Richard F. Etner Jr., Matthew G. McAllister, Mike Davis, Rick Brugge and Michael Lerner Represented Cabot Properties in its Acquisition of Three Buildings Totaling 173,812 Square Feet in Vista Business Park WEST PALM BEACH, FL, November 5, 2018 — Cushman & Wakefield has negotiated Cabot Properties’ acquisition of three multi-tenant warehouse and distribution buildings totaling 173,812 square feet in Palm Beach County. The South Florida Industrial Brokerage Team of Christopher Thomson, Chris Metzger, Richard F. Etner Jr. and Matthew G. McAllister, in conjunction with Mike Davis, Rick Brugge and Michael Lerner of Cushman & Wakefield’s Central Florida operations, represented Cabot Properties in its $25.8 million ($148 per square foot) acquisition of 2211 Vista Parkway, 2213 Vista Parkway and 6935–6965 Vista Parkway North in West Palm Beach’s Vista Business Park. The seller was McCraney Property Company. “Cabot Properties’ acquisition of these buildings represented a tremendous opportunity to acquire proven, well-managed assets with exceptionally strong tenancy and revenue histories in one [...]

Jim McAleese2018-11-16T15:12:40-04:00November 12th, 2018|Capital Markets, In the News, Industrial, Press Release|

Cushman & Wakefield Negotiates $23M Sale of Airport East Distribution Center

The Cushman & Wakefield Team of Wayne Ramoski, Mike Davis, Gian Rodriguez, Rick Brugge and Michael Lerner Represented Equitable Real Estate Partners in the Disposition MIAMI, FL, August 6, 2018— Cushman & Wakefield has negotiated the sale of Airport East Distribution Center, a 397,585-square-foot distribution complex in Miami-Dade County. The Cushman & Wakefield team of Wayne Ramoski, Mike Davis, Gian Rodriguez, Rick Brugge and Michael Lerner represented Miami-based Equitable Real Estate Partners in the disposition. The asset was acquired by CenterPoint Properties for $22.96 million ($58 per square foot). Airport East Distribution Center is a three-building industrial campus featuring concrete block construction, 18- to 22-foot clear heights, sizeable truck courts and exterior storage. The campus is situated on an ±18-acre site providing ample space for parking and staging. The complex was 76 percent leased at the time of sale. Airport East Distribution Center is located at 7000 NW 32nd Avenue, strategically positioned near Miami International Airport and PortMiami in the East Hialeah submarket. “Airport [...]

Jim McAleese2018-08-08T14:05:42-04:00August 8th, 2018|Capital Markets, In the News, Industrial, Press Release|

Cushman & Wakefield Assists in Sale Negotiation of 39,000-SF Value-Add Industrial Portfolio in Jupiter, Florida

Scott O’Donnell, Robert Smith, Dominic Montazemi, Miguel Alcivar and Greg Miller Represented Seller in the Disposition JUPITER, FL, July 24, 2018 – Cushman & Wakefield has assisted the seller in negotiating the sale of The Pointe at Jupiter Park of Commerce, a 39,328-square-foot, two-building light industrial portfolio in Jupiter, Florida, for $5.2 million, or approximately $132 per square foot. Cushman & Wakefield Executive Director Scott O’Donnell, Managing Director Dominic Montazemi, Director Miguel Alcivar and Senior Associate Greg Miller, along with CBRE Executive Vice President Robert Smith, represented the seller, 1201 JCP TIC, LLC & CKJCP TIC, LL, in the transaction. The buyer is Nationwide Development Corporation. The property sits on 3.17 acres at 1201 and 1251 Jupiter Park Drive. The 1201 building consists of 23,660 square feet with 19,660 square feet of office/showroom space and 4,000 square feet of fully air-conditioned warehouse space. The 1251 building consists of 15,578 square [...]

Jim McAleese2018-07-26T14:56:56-04:00July 26th, 2018|Capital Markets, In the News, Industrial, Press Release|

At Airport North Logistics Park: Cushman & Wakefield Negotiates 69,000-SF Expansion, 106,000-SF Build-to-Suit Breaks Ground

MIAMI, May 29, 2018 – Neutralogistics has expanded its lease at Airport North Logistics Park (ALP) by 68,787 square feet, bringing the 900,000-square-foot, Class A, master-planned industrial project to 75 percent leased. The Miami-based logistics company already occupies 105,920 square feet at Building 1 and will be expanding into Building 2. Cushman & Wakefield Executive Director Wayne Ramoski, Director Gian Rodriguez and Senior Associate Skylar Stein, as exclusive leasing agents for the property, represented the landlord, Dallas-based L&B Realty Advisors, LLC in the lease negotiations. Juan Ruiz with Blanca Commercial Real Estate represented the tenant. “The property’s premier location with unique access to expressways and other major business hubs aligns with Neutralogistics’ strategic business objectives and expansion plans over the next few years,” said Alex Tellez, Founder and CEO of Neutralogistics. The expansion, finalized in late April, marks the third lease in as many months to be signed at ALP, [...]

Jim McAleese2018-05-30T11:28:41-04:00May 29th, 2018|Florida, In the News, Industrial, Press Release|

Cushman & Wakefield Negotiates Two Leases at Broward International Commerce Center

The South Florida Industrial Team of Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister Secured Warehouse and Distribution Leases with Custom Service Distribution and Great HealthWorks DANIA BEACH, FL, May 9, 2018— Cushman & Wakefield has secured two new warehouse and distribution leases with Custom Service Distribution and Great HealthWorks totaling more than 20,000 square feet at Broward International Commerce Center. The South Florida Industrial team of Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister negotiated the leases on behalf of Troy, MI-based building owner Broward International Commerce Park, Limited Partnership. Broward International Commerce Center is a four-building warehouse and distribution campus totaling 251,799 square feet. The buildings were developed between 1996 and 2011 on a 22.3-acre site at 241–349 North Bryan Road in Dania Beach. The buildings offer visibility from Interstate 95 and immediate access to the interstate via both Griffin Road and Stirling Road. Broward International Commerce Center is also proximate to Design Center [...]

Jim McAleese2018-05-14T17:00:48-04:00May 10th, 2018|In the News, Industrial, Press Release|