JLL Wins Another Industrial Leasing Gig

FORT LAUDERDALE, FL—There's no doubt demand for industrial real estate is heating up in South Florida. New construction is underway, including a distribution center Bridge Development Partners is raising up.

JLL just won its second exclusive leasing assignment with Bridge for its 146,000-square-foot industrial facility planned in Broward County. The new industrial real estate is set to break ground within the next few months on a 10-acre site in Davie, FL.

That's a prime location just off Florida State Road 84 and 441. The class A industrial space will have the ability to house tenants who need as little as 35,000 square feet of space or to a single tenant. Bridge Pointe Davie will offer 32-foot clear height, ESFR Fire Sprinklers, 54-foot wide column spacing, 120-foot deep private truck court and hurricane impact glass.

JLL senior vice presidents David J. Wigoda and Steven Wasserman, who lead the firm's industrial practice in Broward, are overseeing leasing efforts for the distribution center. The team is also leasing the industrial property Bridge Point Marina Mile, which broke ground this month four miles away in Dania Beach. Bridge is making heavy investments in South Florida.

“With demand outpacing supply in South Florida's industrial market, the region continues to see new spec projects like Bridge Point Davie breaking ground,” says Wigoda. “We have seen significant pre-leasing activity at the proposed site in Dania Beach, which was one of the factors that motivated the ownership to immediately break ground nearby in Davie.”

The demand for new industrial product in Broward continues to increase. About 50% of the recently completed class A buildings delivered in the last three to 12 months already leased, according to JLL's second quarter Industrial Widescreen report. Anticipated population growth, coupled with large infrastructure improvement projects at local ports and airports, will have a direct impact on the industrial sector's performance over the long run, as companies will be able to better utilize the ports to transport goods to and from their facilities, JLL reports.

“Bridge Point Davie will offer premium features, the ability to accommodate a wide range of industrial users, and quick access to South Florida's major highways, ports and airports,” says Wasserman. “With all these features in place, we expect interest from prospective tenants to remain strong.”