Archives for December, 2018

CBRE Negotiates Three Of South Florida’s Top 5 Largest Industrial Leases In 2018

Industrial lease deals in South Florida are getting larger and happening more frequently, commercial brokers say.

Erin Byers, vice president of Colliers International South Florida said leased spaces have grown over the past five years. The top 10 deals five years ago would only sometimes hit the 100,000-square-foot mark. “Now, almost all the deal sizes are in the 80,000 square foot range and up,” she said.

CBRE’s Tony Hoover sees a similar trend. He represented tech startup ShipMonk in its recent 170,447-square-foot lease deal at Bridge Point Riverbend, a speculative 221,542-square-foot industrial building close to completion in Fort Lauderdale. Byers represented the landlord.

“Building a speculative 220,000-square-foot project sounds risky, but there’s a market there to absorb it,” Hoover said.

Here, The Real Deal breaks down this year’s five largest industrial lease deals in South Florida, ranging from 200,000 square feet to about 257,000 square feet. The data is from Colliers International South Florida.

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Brokers Predict Positive CRE Market In 2019

Yet another good year is on the horizon for the commercial real estate market, according to Transwestern’s 2019 Broker Sentiment Survey, even in light of a few uncertainties. Transwestern queried brokers on expectations for office, medical office and industrial properties.

Respondents asserted that sound job growth and solid consumer and business confidence will again bolster fundamentals in all three sectors. And despite minor concerns, survey participants contend that economic growth will play an ongoing role in commercial real estate’s strong performance.

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Butters JV Purchase 22.35-Acre Industrial Development Site In Broward County

Coconut Creek, FL-based Tamarac Industrial Venture, LLC, a joint venture of Butters Construction & Development and an institutional capital partner, acquired a 22.35-acre industrial development site in central Broward County.

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