Granite REIT Acquires Fully Leased Logistics Center In Broward County

JLL Capital Markets announced the sale of Coral Springs Logistics Center, a recently constructed, fully leased industrial property in Broward County.

JLL represented the seller, a venture between Barings Real Estate and Arkadia Property Group, in the transaction, with Granite REIT acquiring the asset.

The 124,500-square-foot property consists of two rear-load buildings completed in 2021, leased to Exclusive Trim, Inc., a regional wholesale building materials company, and Marc Refrigeration, a leading manufacturer of commercial refrigerators.

Located at 3850-3872 NW 126th St. in Coral Springs, the property is strategically positioned adjacent to the Sawgrass Expressway, connecting to Florida’s Turnpike, I-595, I-75 and I-95. This central location enables tri-county last-mile logistics capabilities with access to over 6.6 million people within a 90-minute drive time and the region’s most populated MSAs: Miami, Broward County and Palm Beach County.

The JLL Capital Markets team included Senior Managing Director Luis Castillo, Managing Director Cody Brais, Associate Taylor Osborne and Analyst David Orta Jr.

“Coral Springs Logistics Center represented a rare opportunity to acquire Class A industrial assets in one of the premier land and supply-constrained coastal markets in the U.S.,” said Castillo. “The property’s exceptional specifications, central location and strong tenant roster with contractual rent growth made it an attractive acquisition, particularly in Broward County, where vacancy rates remain among the lowest in Florida and rent growth continues to outpace other markets in the region.”