Cushman & Wakefield announced today that it has negotiated a 19,913-square-foot lease with Lufthansa at Port 95 Business Center in Dania Beach.
Cushman & Wakefield Executive Director Christopher Metzger, Executive Director Richard F. Etner, Senior Director Christopher Thomson, and Associate Director Matthew G. McAllister represented building owner MSG Port 95, LLC in the transaction. In November 2014, Metzger, Etner and Thomson represented developer Bridge Development in the $27 million sale of Port 95 Business Center to MSG Port 95, LLC.
Port 95 Business Center, located at 2650 SW 36th Street, consists of two Class A, state-of-the-art distribution buildings totaling 230,036 square feet situated immediately west of Fort Lauderdale-Hollywood International Airport. Its location in the Southeast Broward industrial market provides excellent access to Interstate 95, Interstate 595, Florida’s Turnpike, Interstate 75 and the Sawgrass Expressway. The buildings offer a total of 72 dock-high doors and eight drive-in doors.
Lufthansa, Europe’s largest airline, will house its Component Services subsidiary of Lufthansa Technik at Port 95 Business Center. Component Services handles the regional sale, distribution and maintenance of aircraft parts for Lufthansa’s fleet. Lufthansa is expected to occupy the space in June.
“Port 95 Business Center is a perfect fit for Lufthansa,” said Metzger. “It provides a state-of-the-art warehouse and distribution center adjacent to an international airport.”
According to Cushman & Wakefield research, the Broward County industrial market continues to exhibit excellent market fundamentals with unprecedented rent growth.
“Broward County is expected to remain a top industrial market in South Florida by providing space options that meet today’s tenant’s requirements,” wrote Senior Research Analyst Valerie Tatum in the firm’s 4Q 2015 Broward County Industrial MarketBeat Report. “Activity and demand has moved north in the County creating new opportunities and development possibilities. With strong absorption, rising rental rates and healthy leasing activity, Cushman & Wakefield forecasts solid improvement in the industrial market for all of Broward County in 2016.”
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