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MIRAMAR, FL-Baer’s Furniture has signed a lease for 183,331 sf in the Kellstrom Building at 3701 Flamingo Rd. ProLogis is the building owner, and this lease takes occupancy in the 545,000-sf industrial warehouse property to 100%.

Pompano Beach-based Baer’s is a 20-year-old, family-owned retail furniture and design company with 14 units throughout Florida. It is relocating its distribution operations from a smaller space in Oakland Park.

Jolie Spergel, advisor, and Kathleen Alberts, SVP of brokerage for Fort Lauderdale-based Brenner Real Estate Group, represented Baer’s in the transaction, which Spergel tells GlobeSt.com is the largest industrial lease transaction in Broward County this year. Dan Santinga of ProLogis’ office in Hollywood, FL, and Chuck Sullivan of the Tampa office, represented the building owner. The Kellstrom building was completed in 2000.

“Baer’s chose this space for its immediate availability and because the building design worked well for them,” Spergel says. She also credits ProLogis with its “willingness to work within Baer’s terms.” She declined to disclose the terms of the lease. The average asking rental rate for such facilities in Central Broward is between $7.73 per sf and $8.94 per sf, according to mid-year data from the South Florida office of CB Richard Ellis. On condition of anonymity, a broker familiar with this transaction tells GlobeSt.com the rate was approximately $8.50 per sf.

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