Broward County Eyeing 27-Acre USPS Site For $18 Million

The Broward County Commissio16000 pines blvdn will consider purchasing a 27-acre site in Pembroke Pines from the U.S. Postal Service.
The commissioners will be presented with a contract for the $17.88 million acquisition of the site at 16000 Pines Blvd. during their May 12 meeting. County staff, which negotiated the deal, has proposed using the land for the construction of a transit facility.
The land is appraised at $13.2 million and the massive, 345,000-square-foot building at $18.7 million by the Broward County Property Appraiser’s Office.

“The two current transit facilities have exceeded 90 percent capacity, limiting growth potential,” the county agenda item stated. “The third site would be a much needed operating and maintenance facility.”

The memo said the site could help serve a potential new Interstate 75 Express Bus service between Broward and Miami-Dade County.
The property is located west of Interstate 75 and currently has a USPS warehouse and retail operation. USPS wants to keep the retail operations but it wants to sell the rest. CBRE‘s Tom O’Loughlin and Larry Genet were tapped to market the property in February.
In addition to hosting county transit, the site could eventually have a transit-oriented commercial and retail development, the county memo said.
Source:  SFBJ



Get the latest industry news and information from CRE-sources delivered right to your email inbox!

And we promise…no more than one email each morning.