Cushman & Wakefield’s South Florida Industrial Team negotiated leases with Medify Air, Wheel Pros, and The Lotus Group at Tamarac Industrial Venture, LLC’s (TIV) newly-constructed Tamarac Business Center. The three leases bring the ±180,306-square-foot industrial building to full occupancy shortly after the team leased the facility’s sister building, 6901 North Hiatus Road, to an e-Commerce user in April of this year.
The Cushman & Wakefield team of Chris Metzger, Rick Etner Jr., Christopher Thomson, and Matthew G. McAllister secured the leases on behalf of TIV, a joint venture of Coconut Creek, FL-based Butters Construction and Development and an institutional capital partner.
Medify Air, a South Florida-based producer of air purifiers and filters for the consumer, business, medical, and scholastic markets, leased ±115,115 square feet at Tamarac Business Center. The company is expanding from its current Deerfield Beach facility and took occupancy in Tamarac Business Center on October 1. Bob Schneiderman of Colliers International represented Medify Air in the lease negotiations.
Denver-based Wheel Pros leased ±40,171 square feet in Tamarac Business Center. Wheel Pros is a leading designer, marketer, and distributor of branded aftermarket wheels and a distributor of performance tires and accessories. The company will utilize the space as a warehouse and distribution center. The Tamarac location will be Wheel Pros’ fifth in the state of Florida, where it already has facilities in Miami, Tampa, Orlando, and Jacksonville. Wheel Pros, which will move into the space in the first quarter of 2022, was represented by Reid Bassinger of Lee & Associates in the lease negotiations.
The Lotus Group
The Lotus Group leased ±25,020 square feet, relocating and expanding from its existing Broward County headquarters, warehouse, and distribution facility to Tamarac Business Center. Founded in 1991, The Lotus Group offers an exclusive mix of best-in-class smoking accessories, including lighters, cigar cutters, gift sets, humidors, cigar cases, ashtrays, humidification accessories and butane gas. The Lotus Group will take occupancy in the first quarter of 2022 and was self-represented in the lease negotiations.
Tamarac Business Center is located at 6801 North Hiatus Road in Tamarac. The ±180,306-square-foot building was completed earlier this year, and features 32-foot clear ceiling heights, an ESFR (Early Suppression, Fast Response) fire safety system, LED lighting, 44 dock-high doors, two ramps, 54-foot by 42.5-foot column spacing, and a parking ratio of 1:1,000. The site is zoned LI-1 by Broward County.
Tamarac Business Center currently consists of two buildings totaling ±358,628 square feet and is centrally located in South Florida’s tri-county area of Miami-Dade, Broward, and Palm Beach Counties. Its position within the market provides immediate access to the Sawgrass Expressway and is a short drive from Interstate 595, Interstate 75, Interstate 95, and Florida’s Turnpike. Both buildings are now at 100 percent occupancy.
“The appetite for modern, flexible warehouse and distribution space with ready access to the entire South Florida market continues to grow,” said Metzger. “Users are eager to capitalize on the operating efficiencies offered by the new, high-quality spaces developers like TIV are bringing to market.”
The seven-member South Florida Industrial team led by Metzger, Etner, and Thomson negotiated just over 13 million square feet of sale and lease transactions valued at more than $313 million in 2020.
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