Various locations

Broward Infill Industrial Portfolio

Attributes

Building area net

24,566 m²

Land area net

7 ha

Number of units

8 units

Occupancy

86%

WAULT

2.9 years

Portfolio description

Jones Lang LaSalle, Inc. (“JLL”) has been exclusively retained to offer prospective investors the opportunity to acquire the Broward County Infill Industrial Portfolio totaling 264,429 SF. The Portfolio consists of 8 buildings across four separate light industrial properties that are currently 86% leased. A new investor can immediately build critical mass in one of the country’s top industrial markets with the acquisition of this infill portfolio.

The Portfolio is centrally located within Broward County and features exceptional connectivity to South Florida’s densest population nodes and key logistical infrastructure including the region’s major highways, airports, and ports. Broward County has been one of the country’s top-performing industrial markets in the country and enjoys current vacancy rates of 3.4% with rents growing 69% over the last 5 years.

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Investment Highlights

Rare portfolio offering critical mass with substantial upside in nation’s top industrial market for rent growth - Broward County, FL

Portfolio offering of 264,429 SF within four properties with a total of 8 buildings on 18.5 acres
Properties diversified by building type, bay sizes and submarkets, offering a new owner of wide breadth of options for space occupiers

Compelling value proposition offered at an attractive acquisition basis that is well below replacement cost

Industrial land prices in this high-barrier market are estimated at $130/SF
As such, all-in replacement cost for competitive product can easily exceed $270/SF

Short-term WALT of ±2.9 years provides ability to quickly recapture rent growth from existing leases that are 21% below market rates