(To read more on the industrial market, click here.)

PLANTATION, FL-Cell phone service provider MetroPCS Florida, LLC has signed a 10-year, 30,985-sf lease for warehouse space at 1800 NW 66th Ave.

Morris Southeast Group/Corfac International vice president Lois Paskow represented the tenant in the transaction. Keith Graves, of Berger Commercial Realty Corp., represented the landlord, Plantation Properties of Broward LLC. Paskow tells GlobeSt.com that MetroPCS will use the space as a switch room. “We identified the space a few months ago before the market tightened up and it was a perfect fit,” she says. “MetroPCS is a huge player in the South Florida market and securing this space will allow the company to continue to thrive in the marketplace.”

The lease is the latest transaction in an industrial market that has been thriving in recent months with positive absorption, increasing average asking rental rates and limited speculative construction. “Over the past six months, the market has really started to climb especially with the larger bays, but also with the smaller bays,” Paskow says. “As a result, rates have increased.”

According to a CB Richard Ellis Broward County Industrial Q2 market report, the industrial vacancy rate were 3.2%, down 2.1 percentage points from 5.3% a year ago. As a result, the average asking rates have increased 14.7 percentage points over the year, from $6.59 per sf a year ago to $7.54 during the second quarter. “The remainder of 2006 looks good for Broward County’s industrial arena as South Florida grows along with the national economy,” the report states. “Market conditions aren’t expected to soften anytime soon as some area professionals suggest.”

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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 © 2024 ALM Global, LLC. All Rights Reserved.