MIAMI—Eastman Group just sold a 55,110-square-foot industrial showroom in Fort Lauderdale, FL. Dezer Development snapped up the industrial property for $3.6 million, or $65.32 per square foot.
Cushman & Wakefield represented Eastman. CushWake executive directors Richard F. Etner and Christopher Metzger, along with senior director Christopher Thomson and associate director Matthew G. McAllister led the charge.
“The Easton Group did a tremendous job positioning this asset for disposition,” Etner tells GlobeSt.com. “Their efforts provided Dezer with the opportunity to acquire a high-performance asset with a tenant in place in one of South Florida's strongest industrial submarkets.”
5300 North Powerline features open showroom space, 15-foot ceiling clear heights, dock-high loading, ample parking and is 100-percent air-conditioned. The building's location provides excellent access to Interstate 95 and direct frontage on Powerline Road. Dirt Cheap occupies the building.
According to CushWake research, Broward County remains a target market for investors. That's due to constrained supply and excellent market fundamentals.
“The Broward County industrial market displayed solid growth in key fundamentals with elevated leasing activity pushing absorption positive, vacancy down and rents up all supported by low unemployment,” wrote senior research analyst Valerie Tatum in the firm's recently released 1Q 2016 Broward County Industrial MarketBeat Report. “The delivery of new space to the market does not satisfy demand as tenant interest remained strong throughout the county. Cushman & Wakefield sees a rise in occupancy and net absorption for the remainder of the year, particularly in the core markets.”
MIAMI—Eastman Group just sold a 55,110-square-foot industrial showroom in Fort Lauderdale, FL. Dezer Development snapped up the industrial property for $3.6 million, or $65.32 per square foot.
Cushman & Wakefield represented Eastman. CushWake executive directors Richard F. Etner and Christopher Metzger, along with senior director Christopher Thomson and associate director Matthew G. McAllister led the charge.
“The Easton Group did a tremendous job positioning this asset for disposition,” Etner tells GlobeSt.com. “Their efforts provided Dezer with the opportunity to acquire a high-performance asset with a tenant in place in one of South Florida's strongest industrial submarkets.”
5300 North Powerline features open showroom space, 15-foot ceiling clear heights, dock-high loading, ample parking and is 100-percent air-conditioned. The building's location provides excellent access to Interstate 95 and direct frontage on Powerline Road. Dirt Cheap occupies the building.
According to CushWake research, Broward County remains a target market for investors. That's due to constrained supply and excellent market fundamentals.
“The Broward County industrial market displayed solid growth in key fundamentals with elevated leasing activity pushing absorption positive, vacancy down and rents up all supported by low unemployment,” wrote senior research analyst Valerie Tatum in the firm's recently released 1Q 2016 Broward County Industrial MarketBeat Report. “The delivery of new space to the market does not satisfy demand as tenant interest remained strong throughout the county. Cushman & Wakefield sees a rise in occupancy and net absorption for the remainder of the year, particularly in the core markets.”
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