Overview
The Capital Markets Group of Cushman & Wakefield of Florida, LLC has been retained by the Owner as the exclusive agent and advisor for the sale of the Central Broward Small Bay Portfolio. The Property comprises 4 single-story, highly functional small bay industrial buildings featuring 72 grade level doors and totaling 49,310 SF. The asset is currently 100% leased at below market rental rates and is home to 60 tenants with an average bay size of 822 SF. The Portfolio is centrally located within the Broward County industrial market which saw rent growth of 2.9% last year and is projected to grow at 14% over the next three years. Moreover, the offering presents a rare opportunity to acquire a plug-and-play small bay Portfolio with limited capital responsibility given recent substantial investments made by ownership.
Investment Highlights
- In-place tenants have built-in 5%-7% annual base rent escalations.
- Strategically located within Mears Industrial Park with efficient access to the Florida Turnpike and State Road 7.
- All four buidlings recently passed Broward County’s 40-year recertification.
- Limited capital responsibility given current ownership has spent significant capital renovating individual tenant suites and enhancements the Portfolio’s physical envelope.
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Sales Team
