August 23, 2018
Pembroke Park, Fla. – Transwestern’s South Florida industrial team today announces it has negotiated 112,233 square feet of lease transactions at Seneca Industrial Park, an 885,000-square-foot, Class A distribution and warehouse park located at 2500 SW 32nd Ave. in Pembroke Park, Florida.
Transwestern Managing Director Thomas Kresse, Senior Managing Directors Ben Eisenberg and Walter Byrd, and Vice President Carlos Gaviria represented the landlord, TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA), in the following transactions:
- Colony Hardware, a national distributor of tools, equipment, fasteners, supplies, and safety products, signed a new 25,476-square-foot lease. Avison Young’s Wayne Schuchts and Bobby Benton represented Colony Hardware.
- HD Supply, a leading distributor of maintenance, repair, and operations solutions and construction supplies, renewed its 46,498-square-foot lease. Colliers International’s Erin Byers represented HD Supply.
- Chefs’ Warehouse, an international gourmet foods and restaurant supply company, renewed its 27,017-square-foot lease.
- Smart Van Lines, a moving and transportation services company, renewed its 13,242-square-foot lease.
“Seneca Industrial Park continues to attract and retain tenants due to its Class A business park environment, as well as its close proximity to Interstate 95 at the Miami-Dade County and Broward County line,” said Kresse. “In addition to its location at the county line, which enables tenants to service both counties, Seneca provides proximity to service the denser population areas of the east side of town. Seneca is also centrally located between the airports and seaports of both Miami and Fort Lauderdale.”
The Southeast Broward industrial submarket direct vacancy rate is at 3.5 percent, which is below Broward County’s overall direct vacancy rate of 4.6 percent, according to research by Transwestern.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 211 offices in 36 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern.