CBRE’s O’Loughlin, Genet Finalize 7-Year, 31,500-SF Lease Deal In Pompano Business Center

May 07, 2017 No Comments by

CBRE Senior Vice President Tom O’Loughlin and Vice President Larry Genet arranged the 31,463-square-foot lease deal for LKQ, a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles, at Pompano Business Center, located at 2028 NW 25th Ave. in Pompano Beach, Florida.

The recently renovated space that the S&P 500 company will occupy features 3,072 square feet of office, 11 dock doors, T5 lighting, 24’ clear ceiling heights, and ESFR sprinklers.

O’Loughlin and Genet represented Clarion Partners, the landlord, in the LKQ lease transaction.

 

“Clarion’s proactive ownership and management program helped solidify the deal,” commented O’Loughlin. “We are thrilled that LKQ is going to call Pompano Business Center home. Ownership received a very good market rent and long term commitment.”

CBRE's Tom O'Loughlin & Larry GenetInvestment manager Clarion Partners purchased Pompano Business Center in May 2016 from Invesco Advisers for $77.25 million via the LIT Industrial Limited Partnership, by LIT Industrial Trust (“LIT”), which is a private industrial real estate investment trust managed by Clarion Partners. The sale included the buildings at 2004, 2001 and 1901 Northwest 25th Avenue, as well as 2510 West Copans Road. All four buildings were built between 1999 and 2001, and house about 624,531 square feet of space combined.

Tom Viscount with Butters Realty represented LKQ in the lease deal.

 

 

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Broward County Industrial / Flex, Industrial / Flex, Industry News
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