Avison Young completes 133,140 SF of industrial leases in South Florida’s Broward County

Mar 04, 2020

Avison Young today announces it negotiated 133,140 square feet of industrial lease transactions in Broward County, Florida. Avison Young Principals Tom Viscount and Wayne Schuchts completed the following transactions on behalf of the tenants:

Sonny’s Enterprises, an international manufacturer and marketer of conveyorized carwash equipment, signed a 41,520-square-foot long-term lease expansion to fully occupy Westpoint Distribution Center at 5607 Hiatus Road in Tamarac. Colliers’ Ryan Goggins represented the landlord, Nuveen.
Sonny’s Enterprises also signed a new 37,500-square-foot long-term lease at Tamarac Commerce Center at 6501 Nob Hill Road in Tamarac. Link Industrial Properties’ Eric Penaranda represented the landlord, GLP.
Stimwave, an online distributor and supplier of generic and brand name medicine, signed a new 26,000-square-foot lease at Park Central Business Park at 1310 Park Central Blvd. S in Pompano Beach. Duke Realty’s David Loudenslager represented the landlord.
Lightfire Group, an e-cigarette and vapor distribution company, signed a 16,120-square-foot lease renewal at Westpoint Industrial Center II at 10601 State St. in Tamarac.
Nothing Butt Cigarettes, a tobacco wholesaler and distributor, signed a 12,000-square-foot lease renewal at Westpoint Industrial Center II.

“West Broward and Pompano Beach continue to attract and retain industrial space users that value convenient access to locations throughout South Florida’s tri-county area via major thoroughfares,” said Viscount. “Our clients had a differing range of space requirements in these tightening, in-demand submarkets, and it was a pleasure working with the landlords and their representation to meet those needs.”

According to Avison Young’s year-end 2019 Broward County industrial report, West Broward, where Tamarac is located, posted the lowest vacancy rate in the county at 2.1%. Nearly 2.7 million square feet of new industrial space was completed in the county, of which 1.1 million square feet alone was delivered in Pompano Beach. The submarket still saw 456,773 square feet of net absorption, indicating robust demand.