The Butters Realty & Management Industrial Brokerage Team of JC Conte, SIOR and Brian T. Ahearn, CCIM represented the interest of Challenge Warehousing, Inc. in its 82,192-square-foot industrial lease at 1900 NE 7th Avenue in Dania Beach.
Tom O’Loughlin and Larry Genet with CBRE represented the Landlord, Link Logistics in the transaction.
Since 1982, Challenge Warehousing, Inc. has provided tailored 3PL solutions to international and domestic customers. Their intermodal shipping options, secure warehousing, expedited paperwork, and on-time delivery adds up to convenience and profitability for its clients. Their modern new South Florida warehouse includes more than 82,000 square feet of storage space which has climate control, 32 foot ceiling height, loading docks, and state-of-the-art computers & equipment. The facility is fully protected with an ESFR sprinkler system, and a standard alarm system with police coverage 24/7. Challenge Warehousing assists with new builds and refits, and logistics coordination (pick-up and delivery in the tri-county area, cargo customs clearance, and bonded paperwork). They embrace the complexities presented by globalization. They make it their business to recognize these demands and partner with their customers in fulfilling their needs efficiently. Client satisfaction is their number one priority.
Link Logistics operates a portfolio of over 400 million square feet of logistics real estate in key markets throughout the United States. Established by Blackstone in 2019 as a best-in-class logistics real estate operating platform, Link Logistics seeks to bring its customers the highest quality logistics portfolio, operated to the highest standard. Its properties are at the center of the modern supply chain, helping its customers move products faster and more efficiently than ever before. Its real estate investment business operates a diverse portfolio, including an unsurpassed selection of last mile facilities in highly sought-after urban infill locations.
“As Port Everglades Distribution Center was nearing completion, Challenge Warehousing initially agreed to terms to lease half of the new building,” explained Conte. “Within one month of leasing 41,099 square feet, Challenge won some new customers and they quickly came to terms to lease the entire building. They occupied a large space in Davie for many years and always knew they could grow their business if they moved much closer to Port Everglades. It just so happened that Link’s delivery of the Port Everglades Distribution Center lined up well with Challenge’s lease expiration in Davie. This relocation proved to be the main catalyst for Challenge’s recent growth.”
“Within a month of moving into the first half of the building, we had new customers knocking on our door but we were already full. We quickly came to terms on the balance of the building and occupied. It felt like a Field of Dreams: ‘build it and they will come.’ It’s been well said that when it comes to real estate, it’s location, location, location, and we are very happy with our new address,” said Rex McQuade, President of Challenge Warehousing.
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.
And we promise…no more than one email each morning.