Market Overview

Broward Market Property Search and Market Overview

PREPARED FOR: Informa Ken McAvoy, Ricardo Strul & Rob Correa

1650 SE 17th Street Fort Lauderdale, FL AUGUST 2021

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Contents

Current Property & Location Market Statistics Market Availabilities for Lease Land Available for Sale Signed Lease Comparables Land Sale Comparables

2-4 5-7 8-11

12-15 16-17 18-19

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

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Current Property & Location

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Property Data

1900 NW 21st Avenue Fort Lauderdale, Florida 33311

Property Address:

Property Type:

Heavy Industrial

Submarket:

Fort Lauderdale, Florida

4942-28-29-0010 4942-28-29-0020 4942-28-29-0030

ID:

Building Size:

88,902 SF / 10.43 AC*

Municipality:

City of Fort Lauderdale, Broward County, Florida

Zoning:

M-3

Use:

Warehouse and outside storage

*per Broward County Tax Records

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Property Aerial

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Market Statistics

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Market Statistics Broward County Industrial Market Overview- 1Q21

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Market Statistics Broward County Industrial Market Overview- 1Q21

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Market Availabilities for Lease

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Market Availabilities for Lease Market Availabilities For Lease: 45,000 – 75,000 SF LOCATION TOTAL SF OFFICE SF

LEASE RATE

COMMENTS

CURRENT LOCATION 1900 NW 21 Avenue Fort Lauderdale

Built in 2008

                            

89,950 SF

TBD

N/A

32’ clear ceiling height

Dock high loading

Built in 1999

Pompano Business Center 2001 NW 25 th Ave Pompano Beach Tamarac Business Center 6801 N. Hiatus Road Tamarac Bridge Point 595 2700 Bridge Way, Bldg. 1 Davie Bridge Point 595 2750 Bridge Way, Bldg. 3 Davie Bridge Point 595 2650 Bridge Way, Bldg. 2 Davie

28’ clear ceiling height 22 dock high doors

98,380 SF Divisible

$8.50 NNN $4.08 Exp

1.

15,000 SF

1 oversized ramp

Built in 2021

32’ clear ceiling height

180,330 SF Divisible

$9.50 NNN $3.15 Exp.

2.

To Suit

4 doors per bay

$15.00 PSF TI allowance

Built in 2021

$9.50 NNN $2.75 Exp

176,514 SF Divisible

3.

32’ clear ceiling height

To Suit

Dock high and grade level loading

Built in 2021

$8.95 NNN $2.75 Exp

96,724 SF Divisible

4.

32’ clear ceiling height

To Suit

Dock high and grade level loading

Built in 2021

$8.95 NNN $2.75 Exp

290,295 SF Divisible

5.

32’ clear ceiling height

To Suit

Dock high and grade level loading

Built in 2015

Bridge Point Davie 3501 46 th Avenue Davie

6.

48,600 SF

1,800 SF

$8.75 NNN

32’ clear ceiling height

Dock high and grade level loading

Built in 2021

I-595 Business Center 3500 SW 30th Avenue Dania Beach Davie Business Center 3370 Davie Road, Bldg. F Davie

153,866 SF Divisible

$9.95-$10.50 NNN $3.95 Exp

7.

To Suit

32’ clear ceiling height

Dock high and grade level loading

Built in 2020

$9.25 NNN $2.85 Exp

137,437 SF Divisible

8.

32’ clear ceiling height 44 dock high doors

To Suit

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Market Availabilities for Lease

LOCATION

TOTAL SF

OFFICE SF

LEASE RATE

COMMENTS

Under Construction- delivers March 2022

Prologis Seneca Park 2400 Commerce Center Way Pembroke Park Prologis Seneca Park 2500 Commerce Center Way Pembroke Park

     

190,494 SF Divisible

9.

To Suit

$9.50 NNN

32’ clear ceiling height

Dock high and grade level loading

Built in 2020

10.

57,000 SF

To Suit

$9.50 NNN

32’ clear ceiling height

Dock high and grade level loading

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Market Availabilities for Lease

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Land Available for Sale

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Land Available For Sale

LOCATION

TOTAL AC

SALES PRICE

COMMENTS

Mancini Land 1900 SW 45 th Way Deerfield Beach

Zoned I-2 - Heavy Industrial

  

1.

62.00 AC

Make Offer

Difficult seller

Possible subdivide

th Street and NW 120 th Avenue

SWC of NW 39 Coral Springs

$35,000,000 ($36.18 PSF)

Zoned IRD - Industrial

 

2.

22.21 AC

Planning 400,000 SF industrial

Zone I-1 - Industrial

  

th Terrace

1001-1021 NW 12 Pompano Beach

19.59 AC

Build-to-Suit for Lease Only

I-95 visibility

3.

Variance outside storage in place

Zoned PCD – Mixed Use

 

Isle Casino 777 Isle of Capri Circle Pompano Beach

Currently operating as a casino and harness racing operation Outside storage may be an issue the City 1,500,000 SF industrial permitted

4.

232 AC

Make Offer

 

Zoned B-2 - Business

Ft. Lauderdale Property (Wingate) 1300 NW 31 st Avenue Fort Lauderdale

  

+/-60 AC

Make Offer

City owned

5.

10 combined parcels

2051 Griffin Road Fort Lauderdale

$25,000,000 ($76.52 PSF)

Zoned IROM-AA – Flexible Industrial 350’ of Marina waterfront dockage

 

6.

7.50 AC

Location at Port Everglades Entrance Outside storage permitted Possible build to suit available

  

1700 Eller Drive Fort Lauderdale

$30,000,000 ($68.87 PSF)

7.

10 AC

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Land Available For Sale

LOCATION

TOTAL AC

SALES PRICE

COMMENTS

Davie Industrial Center 3055 Burris Road Davie Wes Parker Site 3400 – 3500 Burris Road 4575 Oakes Road 3501 S State Road 7 Davie

Zoned M-4 – Heavy Industrial

 

8.

38.51 AC

Make Offer For Lease

Site can accommodate up to 400,000 SF

Zoned M-3 – Heavy Industrial Property is currently leased

 

9.

15.70 AC

Build-to-Suit For Lease Only

Zoned M-3 – Heavy Industrial

  

8.6 AC is available now

8.6 AC 20 AC 23.8 AC

20 AC is presently lease to outside storage users, but they can relocate to accommodate a build-to-suit 23.8 AC is being rezoned for a future built-to- suit with outside storage

Bergeron Park of Commerce State Road 27 Pembroke Pines

10.

Make Offer



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Land Available For Sale

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Signed Lease Comparables

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Market Overview Recently Signed Leases

TENANT/LANDLORD/LOCATION

TOTAL SF

LEASE RATE

DATE LEASED COMMENTS

• Term: 63 months • Escalations: 3% • Free Rent: 3 months • TI Allowance: None • New • Term: 124 • Escalations: 3% • Free Rent: 4 months • TI Allowance: $3.00 PSF • Renewal • Term: 66 months • Escalations: 3% • Free Rent: 6 months • TI Allowance: TBD • New Lease • Term: 87 months • Escalations: 3% • Free Rent: 3 months • TI Allowance: $7.00 PSF • New Lease • Term: 49 months • Escalations: 3% • Free Rent: 2 months • TI Allowance: $1.00 PSF • New • Term: 73 months • Escalations: 3% • Free Rent: 3 months • TI Allowance: None • Renewal • Term: 64 months • Escalations: 3% • Free Rent: 4 months • TI Allowance: $11.00 PSF • New

TCA Logistics / Prologis Seneca Park 2500 Commerce Center Way, Bldg 800 Pembroke Park

1.

53,116 SF

$8.00 NNN

2Q21

Spice Labs / Zurich 4000 N Dixie Highway Pompano Beach

73,759 SF- Renewal 54,583 SF- Expansion

$9.07 NNN $7.60 NNN

2.

2Q21

e-Commerce Services / Tamarac Industrial Venture, LLC 6901 N Hiatus Road Tamarac

3.

178,322 SF

$8.10 NNN

2Q21

Unique Wholesale Distributors / Elion 3141 SW 10th Street Pompano Beach

4.

93,873 SF

$8.75 NNN

1Q21

Office Depot / Nuveen 2955 West Lakes Blvd Weston

5.

254,000 SF

$8.15 NNN

4Q20

Retrievex Acquisitions LLC / Prologis 2900 NW 27th Ave Pompano Beach

6.

54,185 SF

$8.05 NNN

4Q20

Comcast / IDI 3100 Davie Road Davie

7.

47,667 SF

$9.20 NNN

4Q20

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Land Sale Comparables

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Land Sale Comparables

BUYER/LOCATION

ACREAGE

SALES PRICE $3,911,400 ($14.62 PSF) $15,025,000 ($39.19 PSF) $3,500,000 ($14.88 PSF) $4,250,000 ($13.94 PSF) $2,625,000 ($14.08 PSF) $32,500,000 ($21.81 PSF) $5,200,000 ($16.93 PSF) $6,497,138 ($18.95 PSF)

CLOSING DATE

1698 N Andrews Avenue Ext, Pompano Beach

6.14 AC

04/2021

Stonemont Financial Group / 4126 SW 47 th Avenue, Davie

8.80 AC

06/2021

Michael Deal / 3550 NW 126 th Avenue, Coral Springs

5.40 AC

06/2021

Diversified Companies / 1000 N University Drive, Cooper City

7.00 AC

12/2020

Johnel A Mecias / 5201 NW 103 rd Avenue, Sunrise

4.28 AC

10/2020

Vital Pharmaceuticals, Inc. / 1600 N. Park Drive, Weston

34.20 AC

03/2020

6401 Lyons Road, Coconut Creek

7.05 AC

11/2019

Nob Hill Road, Tamarac

7.87 AC

09/2019

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cushmanwakefield.com

Prepared by:

Chris Metzger, SIOR Executive Managing Director chris.metzger@cushwake.com 954-415-9155 Rick Etner, SIOR Executive Managing Director rick.etner@cushwake.com 954 304 0033

225 NE Mizner Boulevard, Suite 300 Boca Raton, FL 33432 T +1 954 771 0800 | F +1 954 771 3608 www.cushmanwakefield.com

Cushman & Wakefield Copyright 2021. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). AS APPLICABLE, WE MAKE NO REPRESENTATION AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) IN QUESTION.

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