deal image
3669 NW 19th St, Lauderdale Lakes, FL 3635 NW 19th St, Lauderdale Lakes, FL 3601 NW 19th St, Fort Lauderdale, FL 3569 NW 19th St, Lauderdale Lakes, FL 3535 NW 19th St, Lauderdale Lakes, FL
Elevate Broward Small Bay Portfolio
Asset ClassIndustrial
11 Building | 354,336 SF Small Bay Portfolio | Located in Broward County, Florida
overview of deal

Overview

Cushman & Wakefield’s National Industrial Advisory Group is pleased to present the opportunity to acquire Elevate Broward, a rare, institutionally scaled light industrial portfolio totaling ±354,711 square feet across 11 buildings in Central Broward County. Strategically positioned within one of South Florida’s most supply-constrained and highly sought-after industrial submarkets, Elevate Broward is 87.8% leased to 110 tenants, offering investors an attractive blend of durable in-place cash flow and significant near-term mark-to-market upside. Current in-place rents average 12% below market, presenting a clear pathway to drive substantial NOI growth through renewals and tenant rollover.

 

The Portfolio is distinguished by its diverse unit mix and broad tenant base, with bay sizes ranging from sub-1,000 SF suites to 5,000+ SF shallow-bay warehouses, catering to the core demand profile of the Broward tenant market. This segmentation fuels natural leasing velocity, mitigates rollover risk, and enhances retention by creating an “incubator-style” environment where small businesses can grow and expand within the project. As a result, tenancy is both durable and dynamic, with no single occupancy accounting for more than 7% of total rentable square footage, further reinforcing cash flow stability. Elevate Broward has benefited from a significant $2.3M renovation completed in 2024 and features 132 grade-level loading doors, 12 storage bays, 16’-18’ clear heights, and +/- 30 trailer drops, making it one of the most functional and adaptable small-bay portfolios in the region. Industry exposure across the rent roll is broad-based, led by logistics, warehousing, manufacturing, construction and automotive uses that are deeply tied to Broward County’s growing economy.

Access the Data Room

Investment Highlights

  • Elevate Broward has benefited from a significant $2.3M renovation completed in 2024 and features 132 grade-level loading doors, 12 storage bays, 16’-18’ clear heights, and +/- 30 trailer drops, making it one of the most functional and adaptable small-bay portfolios in the region
  • In-place rents are currently 12% below market, providing a clear near-term opportunity to drive NOI growth
  • Expiring leases present 51.9% NOI growth potential over the next five years through renewal spreads and tenant rollover at market rents
  • No competitive supply under construction given scarce land availability and costs associated with development
  • Leases tend to be shorter-term, allowing rents to adjust more quickly to market and new demand conditions
  • 110 tenants occupying the Portfolio with limited to no concentration risk
  • Broward County's Industrial vacancy is just 3.7% among the lowest in the country
deal gallery image
deal gallery image
deal gallery image
3669 NW 19th StLauderdale Lakes, FL 33311

Investment Sales Team

Dominic MontazemiExecutive Managing Director+1 305 533 2850dominic.montazemi@cushwake.com
Mike DavisExecutive Vice Chair +1 305 533 2862mike.davis@cushwake.com
Jason HochmanExecutive Director+1 305 533 2876jason.hochman@cushwake.com
deal image

Inquire

Listing provided by Revere CRE