Broward Snags Big Industrial Deals
Industrial activity in Broward got off to a bang in ’15, JLL managing director Steven Medwin tells us, with Floor and Decor Outlets of America inking a deal for 324k SF at Countyline Business Center in Miramar.
The big leases in Broward are due to a steadily improving economy, which is being driven by population growth and increases in tourism and construction activity, Steven tells us (he’s with colleague Nick Wigoda). The South Florida recovery, in other words, is a lot deeper than the wealthy swooping into town to snap up deluxe apartments in the sky (though that’s happening, too. George Jefferson would be proud). Steve and Nick and colleague Matt Maciag repped the landlord, IndCor Properties; CBRE repped the tenant.
“Most of the recent large leases are by companies specializing in consumer goods like flooring, food and clothing,” Steven adds. The deal represents a renewal of 183k SF and an expansion of an additional 140k SF within the building. Located in the southwest Broward industrial submarket, the property consists of 545k SF of warehouse, light manufacturing and office space.