Tag Archive for: prospect park

Berger Commercial Realty Negotiates Seven Leases At Prospect Park I & II Totaling ±38,000 Square Feet

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Berger Commercial Realty/Corfac International Senior Vice President Keith R. Graves, CCIM, Vice President Jonathan Thiel, and Sales Associate James Karrat, represented the landlord, AKF3 SF LIGHT INDUSTRIAL LLC % ADLER KAWA REAL ESTATE ADVISORS, in executing seven leases a Prospect Park I & II, two business parks totaling 14 buildings and more than 150,000 square feet located in Fort Lauderdale.

The deals include a mix of new leases, expansions and lease renewals including:

  • Bioxtek LLC signed a new lease for ±11,120 square feet
  • American Way Health, LLC signed a new lease for ±3,274 square feet
  • Pointed Engineering Inc signed a new lease for ±1,305 square feet
  • Commercial Trade Service signed a new lease for ±902 square feet
  • Residential Warranty, Inc. renewed its lease for ±8,309 square feet and expanded by ±5,589 square feet
  • Orthotic & Prosthetic Centers, Inc. renewed its lease for ±5,289 square feet
  • HCB Specialties LLC renewed its lease for ±2,385 square feet

Located within the Fort Lauderdale Commerce Center, Prospect Park I, located at 5201-5255 NW 33rd Avenue, consists of six buildings and features prime office suites ranging from 1,178 square feet to 4,719 square feet.

Prospect Park II, located at 3301-3471 NW 55th Street, consists of eight buildings totaling 81,925 square-feet of office and flex space with bays ranging from 902 square feet to 5,589 square feet. Renovated over the past two years, Prospect Park II features contemporary designs and enhanced curb appeal.

The lease deals bring the buildings to 92% occupancy.

 

Fort Lauderdale Charity Leases 11,000 Square Feet Of Office Space

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Fort Lauderdale Independence Training & Education (FLITE) Center has signed a lease for 11,057 square feet of office space at Prospect Park I, located at 5201 N.W. 33rd St. in Fort Lauderdale.

Brokers Keith Graves, Jonathan Thiel, and Joseph Byrnes, all of Berger Commercial Realty/CORFAC International, negotiated the lease on behalf of the property’s landlord, AKF# SF Light Industrial, LLC.

The FLITE Center is a centralized facility in Broward County for dependent youth to learn the skills needed for independent living. Topics covered include the importance of education, government benefits, budgeting and banking, job and vocational training, housing options and other essential skills needed to live independently. The charity is a result of the collaborative efforts of the Community Foundation of Broward, the United Way of Broward County and the Junior League of Fort Lauderdale in the early 2000s to develop a systemic approach to providing foster care youth with a support system that would help them become productive adults.

Prospect Park I is a multi-building business park located within Fort Lauderdale Commerce Center. Strategically situated between I-95 and Florida’s Turnpike at Commercial Boulevard, the 70,874-square-foot office complex offers flexible floorplans, round-the-clock access and proximity to Fort Lauderdale Executive Airport, the Cypress Creek Tri-Rail station and the Pompano Beach Tri-Rail Station.

 

Busekrus Secures Buyer For 274,000 SF Broward Portfolio

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KTR has acquired the Prospect Park portfolio, a 274,000 SF industrial/flex portfolio in Ft. Lauderdale.

The portfolio consists of 63,800 square feet of single story, walk-up office; 82,000 square feet of flex; and 128,500 square feet of industrial distribution space.  The park is located just west of the Ft. Lauderdale Executive Airport in what is known as the Ft. Lauderdale Commerce Center.

Public records indicate the seller was an affiliate of Invesco Real Estate based in Texas.

The 16 building portfolio was built in 1983 and was 48% occupied at the time of the sale. KTR will seek to reposition the properties for immediate lease-up.

“The Prospect Park Portfolio acquisition is an interesting opportunity to buy functional, multi-tenant warehouse and flex product at a very attractive basis,” commented PJ Charlton, Senior Vice President of Investments for KTR.  “With convenient access to the major highways and population centers and a central Broward County business location, we intend to rebrand the portfolio and restore a stabilized occupancy level.  We will implement an immediate capital program to modernize the building exteriors and tenant spaces.”

This acquisition brings KTR’s total footprint in Florida to approximately 5.0 million square feet.

This Portfolio was marketed by Marty Busekrus, a Director with HFF, as previously reported by CRE-sources.  Busekrus is responsible for industrial investment sales throughout the Southeastern United States.  The portfolio was being marketed without an asking price, however sources close to the deal report a price of roughly $13.5 million, which calculates to approximately $49 per square foot.