Cabot Properties Proposes Logistics Park In Broward County

Sep 28, 2017 No Comments by

An affiliate of Cabot Properties has a property in Pompano Beach under contract to build a logistics park.

On Oct. 4, the city’s Development Review Committee will consider plans for a 75,800-square-foot industrial facility at 1840 N.W. 16th St. The 5.1-acre site currently has a 2,986-square-foot industrial building. It’s owned by 16th Street Pompano Beach LLC, managed by Michael P. Ryan in Auburndale.

The development application says the property is under contract to an affiliate of Boston-based Cabot Properties.

Adam Vaisman, director of acquisitions and development at Coconut Creek-based Butters Construction & Development, said the company would be the general contractor for the project. Butters completed a logistics park a few blocks away in 2016.

The architect for the 16th Street logistic park is T&T Design and Development. About 20 percent of the building would have office space. The project would have 82 parking spaces.

According to the second quarter report by Colliers International South Florida, the vacancy rate for warehouses in Northeast Broward County was 2.9 percent with an average asking rent of $8.71 per square foot. There was 366,144 square feet of warehouses under construction and quarterly net absorption of 190,098 square feet.

Source:  SFBJ




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