The projected triple-net rent range at the class A project is $4.75 per sf to $12 per sf. The South Florida office of Trammell Crow Co. has the exclusive leasing contract.
"It is rare that you are able to find this much industrial land in South Florida," Greystar principal Pryse R. Elam says in a prepared statement. "It is even more rare when you are able to find land that has tremendous access to all three of South Florida's major expressways."
The site is at the interchange of the Sawgrass Expressway and the Florida Turnpike, two miles from Interstate 95. The five planned buildings will range from 93,000 sf to 154,000 sf. Some of the park's amenities are 155-foot to 205-foot bay depths; 24-foot clear ceiling heights; ESFR sprinklers; parking ratio of 1.7 per 1,000 sf; and oversized truck courts.
"Development activity has been strong in recent years in the North Broward industrial market," Elam says. "On average, this market has absorbed all new supply within 12 months of its delivery."
Other Greystar principals are Gary Crane and David Auld. All three are former Crow executives and together have developed $150 milion worth of projects to date in South Florida.
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