X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PEMBROKE PINES, FL-Bergeron Properties & Investment Corp. is finalizing plans to add about two million sf of limited heavy industrial-use space in the Bergeron Park of Commerce & Industry at an estimated total investment cost of about $100 million, according to a GlobeSt.com public records search. Company officials acknowledge the plans but say no media announcement has been made.

The Fort Lauderdale-based real estate development and investment company anticipates a construction-start date within the next six months on several new buildings in the 300-acre development site at the west side of Southwest 196 Avenue between Sheridan Street and Stirling Road near US Hwy. 27 and Interstate 75.

“We’ve had several large users who would have taken space in the park, if we had the buildings available,” Philip G. Saia, Bergeron vice president and general manager, tells GlobeSt.com. “We can do a variety of uses up to limited heavy industrial. The advantage of that is zoning allows for outdoor storage of equipment and materials, whereas most light industrial parks don’t allow that.”

Unlike most industrial developments, the Bergeron Park also is qualified under federal regulations to operate a foreign trade zone.

“There are several industries that will benefit by operating in a foreign trade zone,” Saia says. “Most companies involved in importing–chemicals, automobile parts, pharmaceuticals, electronics–use a lot of imported goods in their products. If they assemble here, they don’t usually pay duty on the imported parts. But they do pay duty on the assembled parts, which is usually lower than the duty on the individual parts.”

This is the first industrial park for a company controlled by Ronald M. Bergeron Sr., who has primarily focused on single-family residential projects prior to beginning work on the Bergeron Park of Commerce & Industry.

The company is now in the process of replatting about 135 acres at the development site formerly known as West Broward Industrial Park, with anticipated estimated impact fees totaling about $609,000, according to Broward County records.

Once that section is replatted, country records show the company is proposing development of about 87,300 sf of commercial-use space and 38,000 sf of office space. The replat would allow for a 12,500-sf fire station and a 24,000-sf US Postal Service building already built at the site.

Industrial use space within the park is expected to lease from $5.75 per sf to $6 per sf on triple-net contracts. “We’re building a park that will accommodate any size tenant over 2,000 sf,” Saia says. “If it’s a larger user, it will be competitive rates.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.