CBRE Senior Vice Presidents Tom O’Loughlin and Larry Genet, along with Associate Michael Oretsky, who manage the leasing for Powerline Business Park, a 500,000-SF small bay industrial park in Pompano Beach, have increased the occupancy from 80% at the start of 2020 to 95%.
“The increased leasing activity of small business owners in Pompano Beach has shown the resiliency of the market,” commented Oretsky. “We will continue to push rate and term for ownership.”
The project, which is owned by Stockbridge, consists of 26 buildings featuring up to 20’ clear heights, dock and drive in loading, glass storefronts, heavy parking ratios, and Powerline Road frontage with 40,000+ traffic counts. Stockbridge owns over 51.7M square feet spanning the entire United States. The team of Tom O’Loughlin, Larry Genet, Larry Dinner, Michael Oretsky, and Jake Zebede represent over 13.5 million square feet throughout South Florida. The team successfully closed 150 transactions worth over 1 billion dollars in total consideration in 2019. The team was voted 2019’s Top Industrial Team at the NAIOP Annual Awards Ceremony.
“Our team has signed a tremendous number of leases at this property year to date,” added O’Loughlin. “This was only possible due to ownership’s flexibility and entrepreneurial nature.”
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