CBRE has arranged the purchase and lease of a 4.03-acre industrial zoned site located at 1801 NW 15 Avenue in Pompano Beach.
Chicago-based Industrial Outdoor Ventures (IOV) purchased the site from a private investor and is leasing the entire property to MB United, a truck parking operation company.
Larry Genet and Tom O’Loughlin with CBRE represented Industrial Outdoor Ventures in both the purchase and lease of the property. Jake Zebede with KZ Commercial Real Estate represented MB United in lease negotiations.
“Turning around and leasing this site to a single tenant just after selling it to IOV was an incredible feeling,” stated CBRE’s Genet. “When it comes to land sales and outside storage in particular, our team is actively engaging owners and users in the market. This is the fourth outside storage lease our team has completed in the last 45 days.”
The fully secured site features an office/guard house, restrooms, and showers. It is DRC approved for a state-of-the-art 92 stall truck parking lot. Construction will commence in the next few weeks with a completion date set for June 2022.
The property is 1.5 miles from the Florida Turnpike and Interstate 95, centrally located between Palm Beach and Miami-Dade Counties. It is located within a 60-minute drive to 5,421,968 permanent South Florida residents.
“Pompano Beach is centrally located for industrial users to easily and effectively serve markets from Miami to West Palm Beach. We are excited to be a solution provider for MB United and assist in their growth as an East Coast managed parking operator,” said IOV Senior Vice President Eric Johnson.
CBRE also recently sold 38 acres to IOV in Davie and is currently marketing it for lease.
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