CBRE Negotiates Corporate Headquarters Lease In Hollywood

Aug 24, 2020 No Comments by

CBRE Senior Vice Presidents Larry Genet and Tom O’Loughlin negotiated the lease of a 27,945-square-foot space at Hollywood Design & Distribution Center, located at 2850 Greene Street in Hollywood. Senior Associate Jake Zebede was also involved in the transaction.

New York-based development firm Avid Asset Management Principal Steven Samuels purchased the value add vacant 60,000-square-foot industrial building with plans to renovate and re-tenant the property. Samuels successfully executed his business plan for the asset by taking a hands-on approach implementing the same strategies used in his New York City portfolio. United Hardware Supply is the new tenant in the building.

Located in southeast Broward County, Hollywood Design & Distribution Center features a high-end corporate office build out, 6 dock-high overhead doors, 1 ramp, 24’ clear heights, is 100% air conditioned and is fully-sprinklered. The property also has excellent curb appeal and street presence on both North 29 Avenue and I-95.

 

“The CBRE team delivered on our investment strategy, which was to bring this formerly vacant building to 100% leased,” commented Samuels. “We are delighted to have a Class A cash-flowing asset in an incredible location. We look forward to growing our South Florida portfolio, and we encourage other brokers to reach out if we can help.”

 

“We signed our second corporate headquarters style lease in this building in the middle of the COVID-19 Pandemic,” added Genet. “Getting this lease done was no small feat. We are fortunate to be achieving these results for our clients.”

The team, which NAIOP South Florida recently recognized as Industrial Broker Team of the Year at its annual Awards of Excellence event, represented the landlord. Gary Tankoos of American Network Commercial represented the tenant.

 

 

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