Broward County Industrial Development Moves Forward with $33M loan
CBRE’s Tom O’Loughlin, Larry Dinner and Larry Genet are the leasing agents for the project.
CBRE’s Tom O’Loughlin, Larry Dinner and Larry Genet are the leasing agents for the project.
“As Port Everglades Distribution Center was nearing completion, Challenge Warehousing initially agreed to terms to lease half of the new building. Within one month of leasing 41,099 square feet, Challenge won some new customers and they quickly decided to lease the entire building,” explained Conte.
The property is expected to be completed in February 2023.
CBRE’s Larry Genet, Tom O’Loughlin, and Noah Ohayon negotiated the sale.
Here are the most popular news headlines this past week on CRE-sources.
Chris Metzger, Rick Etner Jr., Christopher Thomson, and Matt McAllister of Cushman & Wakefield’s South Florida Industrial Team represented the landlord in the lease negotiations.
Raul Bode and Alexander Bernaldo, SIOR, represented the seller, 6450 Building, LLC and Alex Shather of Politan Real Estate LLC represented the buyer, Rene Hernandez, in the transaction.
The portfolio totals 895,958 square feet.
Here are the most popular news headlines this past week on CRE-sources.
“These two industrial assets offer an exceptional value-add opportunity in both of these booming industrial markets,” commented Alex Redfearn, Principal and Founder of Redfearn Capital. “Our team was able to secure both properties off market and execute in a challenging economic environment.”
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