September 20, 2018
WESTON, FL – Transwestern’s South Florida industrial team today announces it negotiated a 17,419-square-foot, long-term lease extension on behalf of Contract Manufacturing Solutions Inc. (now known as Nikao), a product designer and manufacturer, at Weston Business Plaza at 1800-1880 N. Commerce Parkway in Weston, Florida.
Transwestern Senior Managing Directors Ben Eisenberg and Walter Byrd, Managing Director Thomas Kresse, and Vice President Carlos Gaviria facilitated the transaction, maintaining the 66,819-square-foot industrial asset’s 100 percent occupancy status.
“The lease extension provided a mutually beneficial opportunity for our long-standing client to continue operating from an ideal location along Interstate 75,” said Eisenberg.
Elion Partners’ Director of Asset Management Andrew Rohacik represented the firm during the transaction. Elion Partners purchased Weston Business Plaza in March 2018.
According to Transwestern’s research, the Southwest Broward submarket experienced healthy industrial demand in second quarter 2018, with 188,904 square feet absorbed, the highest in Broward County. The demand validates the significant amount of space delivered to the area recently, which caused a rise in vacancy to 11.3 percent. Overall, the county’s industrial market vacancy rate remains at a historic 5 percent.
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.
ABOUT ELION PARTNERS
Elion Partners is a vertically integrated real estate investment firm with institutional-grade capabilities. Elion serves as both a fiduciary and an operator of real estate assets, managing over $2 billion through several closed-end funds and standalone permanent capital investment vehicles. Serving as stewards of its clients’ capital, the firm focuses on preservation for the long-term. Elion’s principals invest significant capital in each fund to ensure the utmost alignment of interests with its LPs.