Cushman & Wakefield’s South Florida Industrial Team has negotiated the purchase of 20351 Sheridan Street, a ±248,770-square-foot warehouse and distribution center in Broward County.
The Cushman & Wakefield team of Rick Etner Jr., Chris Metzger, Christopher Thomson, Matt McAllister, and Merritt Etner represented the buyer, Denver-based EverWest Real Estate Investors LLC, which acquired the asset for $58.25 million ($234 per square foot). The seller, Sheridan Real Estate Investment B LLC, was self-represented in the transaction.
20351 Sheridan Street is a Class A warehouse and distribution center featuring 59 loading docks, a 180-foot truck court, heavy 1,600 Amp/480 Volt three-phase power, and a shell layout accommodating a wide variety of uses. The building was developed in 2020 on a ±13.7-acre site approximately four miles west of Exit 93 on Interstate 75.
“EverWest is fully committed to expanding our footprint in South Florida and this acquisition is a great continuation of those efforts,” said EverWest Director of Acquisitions Tyler Williams. “The Cushman & Wakefield team worked hand-in-hand with us through the holidays to get this one across the finish line by year-end, an almost unprecedented quick close from contract to close in under 20 days.”
“Investors are clamoring for Class A facilities like this in the South Florida market,” said Etner. “This elevated demand meant it was imperative that we act quickly to help secure the acquisition for EverWest.”
The seven-member South Florida Industrial team led by Metzger, Etner, and Thomson negotiated just over 17.5 million square feet of sale and lease transactions valued at more than $543 million in 2021.
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