Hillsboro Technology Center

350 Hillsboro Technology Drive, Deerfield Beach, FL, 33441, US

Description

Jones Lang LaSalle is pleased to exclusively offer the opportunity to acquire Hillsboro Technology Center — South Florida’s premier master-planned infill industrial park. The offering consists of seven state-of-the-art, multi-tenant buildings totaling 916,811 square feet that are currently 96% leased to a roster of high-profile tenants. Strategically located at a four-way interchange along I-95 (217,000 VPD) at the Broward County and Palm Beach County line and just 20 minutes north of Port Everglades and Fort Lauderdale CBD, the property offers unparalleled accessibility, allowing industrial users to easily serve the entire South Florida market.

Constructed from 2017 to 2022, Hillsboro Technology Center is the most dominant, master-planned industrial park along I-95 in South Florida. Featuring varying building depths ranging from 135’ to 210’ and industrial spaces averaging +/-36,000 square feet in size, the property is perfectly positioned to capture the highest concentration of industrial tenant demand in the Broward County market. The industrial park’s exceptional location, limited availability of Class A competition, and the rapid growth of industrial demand in Broward County have resulted in current market rents significantly exceeding the in-place rents at Hillsboro Technology Center. With +/-2.75 years of WALT remaining, a new owner can quickly capitalize on roughly ±30% mark-to-market potential with 42% of leases expiring in the first two years.

HILLSBORO TECHNOLOGY CENTER OFFERS A GENERATIONAL OPPORTUNITY TO ACQUIRE A BEST-IN-CLASS INDUSTRIAL LOGISTICS PARK OF SCALE. LOCATED IN ONE OF THE U.S.’S BEST PERFORMING INDUSTRIAL MARKETS, THE PROPERTY FEATURES STRONG CURRENT INCOME AND THE POTENTIAL FOR SUBSTANTIAL VALUE CREATION FROM MARKING IN-PLACE TENANTS TO MARKET AND CONTINUED RENT APPRECIATION.

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Attributes

ADDRESS

350 HILLSBORO TECHNOLOGY DRIVE DEERFIELD BEACH, BROWARD COUNTY, FL

Building class

Building area net

85,175 m²

Occupancy

96%

Media

Investment Highlights

Critical mass of trophy level Class A light industrial product with massive upside.

Generational opportunity to acquire a state-of-the-art infill industrial logistics park of scale in a top US industrial market instantly becoming a Top 20 owner in Broward County, FL
Exceptionally rare offering as a Class A industrial park of this scale hasn’t traded in South Florida in nearly a decade
Short-term WALT of ±2.75 years provides ability to quickly capture rent growth on expiring leases with ±30% mark-to-market potential

State-of-the-art new construction with market-leading specifications.

Best-in-class concrete tilt wall construction with average clear heights of 25’ to 34’, 175’ – 185’ truck courts with 65’ concrete aprons, four overhead dock doors per bay, and a +/-10% average office buildout throughout the industrial park
Built by Butters Construction, one of the most active and awarded developers in South Florida
Located within a master-planned business park with unique amenities including multiple hotels, on-site childcare, and car charging stations

Trophy quality financial profile with in-place cash flow bolstered by a diverse tenant base.

The property consists of 23 international and regional tenants across a broad base of industries
All buildings have maintained at least 92% occupancy following delivery and lease up demonstrating the stability of the in-place tenancy
The largest tenant in the park only represents 14% of the property’s total square footage protecting a new owner against significant decreases in occupancy
Industrial spaces average +/-36,000 square feet in size across six buildings making the property perfectly positioned to cater to the deepest pool of tenants in the Broward County market

Strategic Tri-County hub location offering unmatched South Florida market access.

Hillsboro Technology Center’s central location in the Tri-County region immediately adjacent to a four-way interchange along I-95 allows industrial users to easily serve the entire South Florida market, saving significant transit time in comparison to Miami and West Palm Beach locations
Direct access to South Florida's 6+ million population across Broward, Miami-Dade, and Palm Beach Counties from one strategic central hub location

High barrier-to-entry market with scarcity of competitive product on the horizon.

Current projects under construction represent less than 1.0% of Broward County’s total industrial inventory. Limited directly competitive new industrial product presents a compelling case for continued rent growth
Affordable housing legislation (SB102) further limiting availability of sites for industrial development/redevelopment