CBRE negotiated a 50,000-square-foot lease at an under construction, speculative, state-of-the-art warehouse facility in Davie.
The tenant, XPO Logistics, is establishing operations in the market after being contracted to handle fulfillment for one of the nation’s largest construction supply houses.
CBRE’s Tom O’Loughlin and Larry Genet represented the owner and developer, Becknell Industrial, in the transaction. XPO Logistics was represented by Russell E. Perry and Russell E. Perry Jr. with the R.E. Perry Company, Inc.
The facility, East Davie Commerce Center, is located at 2405 College Avenue in Davie, just two blocks south of Interstate 595, just minutes from the Fort Lauderdale Airport and Port Everglades. The nearly completed, 130,802-square-foot facility will be Broward County’s newest industrial SPEC building.
“At this facility, XPO Logistics can now reach almost 3 million people within a 30-minute drive time and 5.6 million people within a 60-minute drive time,” commented Larry Genet, first vice president at CBRE. “As last mile deliveries become increasingly more important, infill distribution facilities like this one will play a significantly bigger role both locally and nationally. This trend will continue as we move away from the traditional residential construction tenants and further diversify our tenant base in South Florida.”
“Becknell is pleased to welcome XPO Logistics to East Davie Commerce Center and we look forward to being a part of their continued growth and success,” said Matt Hubert, Vice President of Leasing for Becknell Industrial. “The location and highway access coupled with a brand new modern functional building fit all of the characteristics that the company was looking for and will be attractive to other users in the market. Becknell is excited to continue growing our South Florida presence with this project in Davie as well as our newest project just underway in Pompano Beach.”
Situated on approximately 10 acres, the single-story Class A facility will be delivered at the end of March 2018. The building is designed to house cutting edge distribution companies, technology, medical and aerospace tenants, as well as most manufacturing uses due the 32’ clear height, 3,000 Amps of 480-volt power and 50’ X 50’ column spacing. The building offers direct access to Florida State Road 84 and Interstate 595 via College Avenue, which link directly to Fort Lauderdale Hollywood International Airport and Port Everglades.
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.
