Lee & Associates South Florida Completes Three New Industrial Leases Totaling Nearly 150,000 SF

Lee & Associates South Florida President Matthew Rotolante and Vice President Conner Milford represented tenants in three large industrial leases totaling nearly 150,000 square feet in Broward County.

In one transaction, Chadwell Supply leased 63,800 square feet at Miramar Distribution Center’s Building B in Miramar. Chadwell is a family-owned multifamily supply company headquartered in Tampa, with many additional locations throughout the Southeast, Mid-Atlantic, Midwest and Southwest. It has operated since the early 1970s and expanded into one of the premier maintenance and repair operations (MRO) supply businesses servicing the multifamily industry. Link Logistics Real Estate Management LLC owns the 11500 Miramar Pky., Suite 100 building. Rotolante and Milford worked with Billy Snowden of Lee’s Atlanta office on the transaction. Tom OLaughlin and Michael Oretsky with CBRE represented the landlord.

In Davie, international manufacturing corporation George Fischer, LLC, operating as GF, leased 42,660 square feet at IDI Davie Business Center’s Building F. Atlanta-based IDI Logistics, LLC is the landlord. Founded in Switzerland in 1802, GF comprises three divisions: GF Piping Systems, GF Casting Solutions and GF Machining Solution. It has a presence in 34 countries with 137 companies- 59 of which are production facilities. Rotolante and Milford were referred to GF by Gary McArdell of Lee’s Newport Beach, California office and guided the company through an extensive search of South Florida industrial properties starting in 2019. The pandemic shutdown temporarily halted the search, which resumed in mid-2021. Larry Dinner with CBRE represented IDI in the deal.

“We were able to help GF lock up some of the last remaining industrial space in IDI’s phased project, which is now under construction on its final building as the completed phases are fully occupied,” Milford said. “Over the last 24 months, rents have increased over 20% as new Class A distribution product continues to lease quickly due to surging e-commerce demand coupled with the scarcity of remaining industrial land to develop new projects.”

In Tamarac, Denver-based wheel designer, marketer and distributor Wheel Pros leased 40,171 square feet at 6801 N. Hiatus Road in Tamarac. Rotolante and Milford partnered with Reid Bassinger of Lee’s Dallas/Fort Worth office on the deal. Tamarac Industrial Venture, LLC is the landlord. Founded in 1994, Wheel Pros distributes aftermarket wheels through a variety of brands. It has more than 35 warehouse and fabrication locations around the world. landlord reps were Cushman & Wakefield’s industrial team including Chris MetzgerRick Etner Jr.Christopher Thomson and Matthew G. McAllister represented the landlord.

Terms of the leases were not disclosed.

“These deals underscore South Florida’s appeal as a regional distribution hub for national and international businesses,” Rotolante said. “We are thrilled to produce such strong results for three industry leaders that have longstanding relationships with our Lee colleagues in the Southwest and West Coast. The firm’s spirit of collaboration is particularly evident in transactions like these.”

 

 

Share and Enjoy:
  • email
  • Facebook
  • LinkedIn
  • Twitter
 

-------------------------

Get the latest industry news and information from CRE-sources delivered right to your email inbox!

And we promise…no more than one email each morning.

 

CLICK HERE TO SUBSCRIBE TODAY!

 
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.