JLL Tapped To Lease Class A Industrial Property In Sunrise

Earlier this week, Lincoln Property Company and Walton Street Capital successfully acquired a 77,600-square-foot, fully air-conditioned Class A industrial property located at 4701 NW 103rd Ave. in Sunrise, situated in the heart of the Sunrise Commerce Center in West Broward County.

The acquisition, which was one of the fastest and most straightforward all-cash deals in 2024, saw Lincoln and Walton Street Capital successfully overcoming over a dozen competing bidders. Despite the competitive landscape, the team was able to offer the seller, Miller Property Group, the most favorable terms and close the deal in less than two months.

JLL’s Yuri Quispe, Vice President; Peter Sheridan, Senior Managing Director and Peter Johnston, Associate, through their marketing efforts, procured the joint venture between Lincoln Property Company and Walton Street Capital, facilitating the sale transaction for Miller Property Group.

JLL will spearhead property leasing efforts on behalf of the new ownership group.

“We are proud to be part of such a seamless transaction and congratulate Lincoln Property Company and Walton Street Capital on acquiring this exceptional asset,” said Yuri Quispe, Vice President at JLL. “This property offers unparalleled value with its impressive attributes that will continue to meet industrial demand in the Sunrise market.”

The property is designed to meet the needs of modern industrial users with features that include: air conditioned warehouse area, 32’ clear height, 250’ building depth, 1,600 Amps of Power, eight dock-high doors with pit levelers, one oversized drive-in ramp, three oversized warehouse fans, racking in place and 12,600 square feet of class A, corporate headquarters-quality office space.

“We are especially grateful to Miller Property Group, for allowing us to bring our expertise, local market knowledge, and the strength of the JLL national platform to the table,” added Quispe. “This transaction demonstrates the power of collaboration and the effectiveness of combining local insights with national reach.”

This expansive, free-standing facility is situated between Hiatus Rd. and Nob Hill Rd., just south of Commercial Blvd. The property provides unparalleled connectivity to major transportation routes, including the Sawgrass Expressway, Florida’s Turnpike, and Interstate 595.

According to JLL’s latest Q3 Industrial Insights reports for South Florida, Broward County recorded solid numbers for Q3, including the lowest vacancy rate of the tri-county region at 3.3%, highlighting market demand. Average rental rates also continue to increase, recording at $16.05 triple net, the report states, while approximately 350,000 square feet of leasing activity took place in the third quarter. Several factors including changes in legislature and affordable housing have incentivized growth throughout the County, which has been largely fueled by land constraints, capital migration, and key access to highways that connect to domestic and international trade channels.