CBRE Senior Vice President Tom O’Loughlin, Senior Vice President Larry Dinner and First Vice President Larry Genet arranged a 224,650-square-foot lease deal on behalf of TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA), one of the largest real estate investment managers in the world with $109B in assets under management.
Postal Center International will occupy the entire building, located at 2965 West Corporate Lakes Boulevard in Weston, Florida, which is situated on ±10 acres and features approximately 36,400 square feet of office space, 30’ clear heights, 100% climate control, full back-up generator and UPS systems. The building was built for American Express as its global bill processing facility in 1998.
Postal Center International is a print, mail and marketing solutions provider. The company was named a “Business of the Year” Finalist in South Florida Business Journal’s Signature “Business Of The Year” Awards Program. For a second consecutive year, the company received recognition in the category for revenues of $50 to $100 million.
Ownership tasked the leasing team with finding a tenant that could utilize the existing infrastructure.
“The building was more geared toward a specialized user, which limited the amount of perspective tenants,” explained O’Loughlin. “However, we were able to locate one that recognized the value of the existing improvements. Postal Center International’s operation requires a climate-controlled environment and heavy power and will be consolidating an existing Broward and Dade location later this year.”
The Class A building is located in Weston, just off I-75 with excellent access to I-595 and the Florida Turnpike.
Rick Etner, Chris Metzger and Matt McAllister of Cushman & Wakefield represented the tenant in the transaction.
Larry W. Genet is a Senior Vice President in the CBRE, Inc. Miami, FL office. As part of the CBRE platform Mr. Genet can provide a wide range of services from local to Fortune 1000 clients including agency and tenant representation, asset or portfolio management, high level logistics, labor and data analytics prior to site selection, project/construction management, capital markets, owner user sales and valuation advisory services. CBRE is the global leader for real estate services worldwide.
Larry has extensive experience in landlord agency, tenant representation, acquisitions, dispositions and property management. As a third-generation commercial real estate professional and South Florida native, Larry boasts deep community ties, an intimate knowledge of the South Florida market and numerous professional contacts. Larry’s leasing expertise of industrial, office, land, retail and medical properties coupled with his experience in acquisitions and dispositions gives him the ability to represent a myriad of clients in the South Florida market. Additionally, Larry controls a portfolio of 13.5 million square feet allowing him to see every deal in the market. This ensures his clients never miss an opportunity. His knowledge of tenants and buyers in the market is top notch and when coupled with his team's vast portfolio, it's a winning combination.
