FRP Development Corp acquires 24-acre site for new Class A logistics development in Southwest Broward County

FRP Development Corp, a leading real estate development company, announced today the acquisition of a 24-acre site in Southwest Ranches, Florida. The company plans to develop Logistics Center at Southwest Ranches, a new Class A logistics development capable of accommodating over 300,000 square feet, designed to meet continued demand for modern industrial space in South Florida.

Located at the intersection of SW 202nd Avenue and Sheridan Street, the logistics project is expected to break ground later this year. Upon completion, the development will offer institutional-quality warehouse space featuring 36-foot clear heights, dock-high loading, generous trailer parking, expansive truck courts and flexible configurations designed to serve logistics, manufacturing and regional distribution users. The project is estimated to reach completion in 2028.

FRP acquired the site off-market. The transaction marks the company's latest investment in South Florida, where it continues to expand its portfolio of strategically located infill logistics developments amid strong tenant demand and a shrinking supply of developable industrial land. The site required a highly complex entitlement process spanning more than two and a half years to secure the necessary development approvals.

"South Florida remains one of the strongest industrial markets in the country, but opportunities to develop new Class A product in core locations have become increasingly scarce," said Mark Levy, Chief Investment Officer at FRP Development Corp. "The acquisition of this site reflects our long-term strategy of investing in well-located infill markets where barriers to entry are high, and tenant demand continues to outpace supply. Southwest Ranches offers regional connectivity and limited competitive inventory, making it an ideal location for the next generation of logistics users."

Situated within the Greater Fort Lauderdale metropolitan area, Logistics Center at Southwest Ranches provides immediate access to Interstate 75, U.S. Highway 27 and Interstate 595, placing tenants at the crossroads of South Florida's primary freight corridors. The location offers convenient connectivity to Port Everglades, Port Miami, Miami International Airport, Fort Lauderdale-Hollywood International Airport and the Florida East Coast Railway's intermodal network while serving the tri-county consumer base.

According to JLL's latest South Florida Industrial Insights report, Broward County remains one of the region's strongest-performing industrial markets, supported by healthy tenant demand and limited available space. The market recorded 258,992 square feet of positive net absorption during the second quarter, while leasing activity surpassed 1.1 million square feet, evenly split between new leases and renewals, reflecting both tenant expansion and strong tenant retention. With limited land available for new industrial development, Broward's central location along South Florida's logistics corridor is expected to continue supporting stable fundamentals, rent growth, and landlord leverage.

Logistics Center at Southwest Ranches further expands FRP's growing portfolio of Class A industrial developments throughout high-growth markets. The company's active pipeline includes Logistics Center at Parsippany, a 140,031-square-foot warehouse project under development in Morris County, New Jersey; Logistics Center at 595, totaling 182,773 square feet across two buildings in Davie, Florida; Logistics Center at Lakeland, a 201,420-square-foot facility currently under construction in Central Florida situated between the Tampa Bay and Orlando metro areas; and Camp Lake Commercial Center, a 1.38 million-square-foot, three-phase industrial project in Minneola, Florida. The firm also recently delivered phase I of Logistics Center at Delray, along U.S. 441 in South Florida, and announced the completion of Logistics Center at Hamilton bringing over 170,000 square feet of modern and efficient logistics space to Hamilton, New Jersey.