FORT LAUDERDALE, FL—In one of the largest lease deals in Broward County during the second quarter of 2014, Morris 4X4 Center is taking down 60,000 square feet at Duke Realty's Atlantic Business Center in Pompano Beach, FL. The distributor of Jeep parts and accessories will locate in Building 5 A.
CBRE's Larry Genet, Harry Tangalakis, and Tom O'Loughlin represented the tenant. Jeff Kelly of CBRE, along with Stephanie Rodriguez and Ed Mitchell of Duke, represented ownership. CBRE brokers say the deal changes the dynamics of the local market.
“The Pompano Beach submarket in Broward County has been one of the slowest submarkets to recover from the recession, but with Morris 4X4 taking down 60,000 square feet, we are beginning to see stabilization in that market,” says Genet. “The fundamentals and rental rates are getting very close to supporting industrial spec development in northeast Broward.”
Since launching in 1990, Morris has grown into one of the largest Jeep parts distributors in the county, employing over 71 people. The company plans to hire 15 more people with this new facility.
“With this new ultra-modern and high-tech facility, we can further our expansion plans, hire additional employees and enter new areas of business such as truck parts and accessories,” says Morris CEO Glenn Morris. He says the company plans to "continue our aggressive growth trajectory driving sales and revenue while supporting the local economy, employment and multiple charities.”
Located at 2031 Southwest 2nd Street, in Pompano Beach—part of the West Pompano market— Atlantic Business Center is one of the largest industrial developments in the area. The industrial park spans nearly 1.3 million square feet of premium space in 13 buildings, each with skylights for plenty of natural lighting.
Interstate 95 and Florida's Turnpike are nearby and the Fort Lauderdale Executive Airport seven miles away. The industrial park is also close to shopping and dining establishments, as well as a Walmart Supercenter adjacent to the campus.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
