C&W Brings Sawgrass I To Full Occupancy With 31,000 SF Lease

Cushman & Wakefield announced today that, in conjunction with Prologis, it has leased the final availability at Prologis Park – Sawgrass I Building A in Coral Springs.
Executive Director Christopher Metzger, Executive Director Richard Etner, Jr., and Senior Director Christopher Thomson represented Prologis in signing a 31,208-square-foot lease with St. Louis-based Gateway Classic Cars.
Gateway is an automobile dealer which has been providing cars on consignment over the internet for private owners, collectors, and estates since 1999. The company currently has nine locations throughout the Midwest and South, including showrooms in Tampa, Orlando and now Coral Springs. Gateway will move in next month.
Prologis Park – Sawgrass I Building A, located at 4020 NW 126^th Avenue, is a Class A, LEED-CS-certified, 99,755-square-foot industrial warehouse with immediate access to the Sawgrass Expressway.
The Gateway lease brought Sawgrass I to full occupancy.
With the two-building, 199,510-square-foot complex fully leased, Prologis now plans to develop another 407,000 SF of warehouse or offer build-to-suit opportunities on an adjacent 28-acre site. Prologis also has another 22-acre site nearby know as Sawgrass II, offering land sales down to three-acres or build-to-suit opportunities.
Metzger is confident that Prologis will quickly fill these spaces.
 

“The Broward industrial market is thriving,” said Metzger. “The demand for facilities like Prologis Park far exceeds supply.”

Cushman & Wakefield’s 4Q 2014 Broward County Marketbeat report supports that sentiment, documenting eight consecutive quarters of positive absorption and predicting, “with low vacancy, sales and leasing prices are expected to continue increasing.”
 

“The region has all of the right assets economically to meet the growing needs of industrial users emerging in the U.S.,” reads the report. “As a result, demand, positive market fundaments and new developments are only expected to continue.”

JLL represented Gateway. Prologis Vice President and South Florida Market Officer Scott Gregory is managing the project.

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