CBRE Senior Vice President Tom O’Loughlin and Vice President Larry Genet arranged the 31,463-square-foot lease deal for LKQ, a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles, at Pompano Business Center, located at 2028 NW 25th Ave. in Pompano Beach, Florida.
The recently renovated space that the S&P 500 company will occupy features 3,072 square feet of office, 11 dock doors, T5 lighting, 24’ clear ceiling heights, and ESFR sprinklers.
O’Loughlin and Genet represented Clarion Partners, the landlord, in the LKQ lease transaction.
“Clarion’s proactive ownership and management program helped solidify the deal,” commented O’Loughlin. “We are thrilled that LKQ is going to call Pompano Business Center home. Ownership received a very good market rent and long term commitment.”
Investment manager Clarion Partners purchased Pompano Business Center in May 2016 from Invesco Advisers for $77.25 million via the LIT Industrial Limited Partnership, by LIT Industrial Trust (“LIT”), which is a private industrial real estate investment trust managed by Clarion Partners. The sale included the buildings at 2004, 2001 and 1901 Northwest 25th Avenue, as well as 2510 West Copans Road. All four buildings were built between 1999 and 2001, and house about 624,531 square feet of space combined.
Tom Viscount with Butters Realty represented LKQ in the lease deal.
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.
