CBRE Inks 60,000 SF Lease Deal At Broward Business Center

CBRE has arranged one of the largest lease transactions in Broward County in Q2 2014.
Morris 4X4 Center, a distributor of Jeep parts and accessories, has signed a lease for 60,000 square feet at Duke Realty’s Atlantic Business Center, Building 5A, located at 2031 SW 2 Street, Pompano Beach, FL. CBRE’s brokerage team consisting of Larry Genet, Harry Tangalakis and Tom O’Loughlin represented the tenant.
“The Pompano Beach submarket in Broward County has been one of the slowest submarkets to recover from the recession, but with Morris 4X4 taking down 60,000 square feet, we are beginning to see stabilization in that market,” said Genet. “The fundamentals and rental rates are getting very close to supporting industrial spec development in northeast Broward.”
Since its inception in 1990, Morris has grown into one of the largest Jeep parts distributors in the county, employing over 71 people. The company plans to hire an additional 15 people with this new facility.
“With this new ultra-modern and high-tech facility, we can further our expansion plans, hire additional employees and enter new areas of business such as truck parts and accessories,” said Morris CEO Glenn Morris. “As a pioneer in the Jeep parts world, utilizing information technology and e-commerce platforms, we plan to continue our aggressive growth trajectory driving sales and revenue while supporting the local economy, employment and multiple charities.”
Located in the West Pompano submarket, Atlantic Business Center is one of the largest industrial developments in the area, with nearly 1.3 million square feet of space in 13 buildings.
Jeff Kelly of CBRE, along with Stephanie Rodriguez and Ed Mitchell of Duke Realty, represented ownership.