Cushman & Wakefield Negotiated a 23,390-Square-Foot Renewal with the European Tool Maker
Cushman & Wakefield announced today that it has represented Prologis (NYSE:PLD) in negotiations for a 23,390-square-foot industrial lease at Prologis Seneca Park with tenant Hilti.
The Cushman & Wakefield South Florida Industrial Team of Executive Director Richard F. Etner, Executive Director Christopher Metzger, Senior Director Christopher Thomson and Associate Director Matthew G. McAllister represented Prologis in its lease renewal with Hilti, a Liechtenstein-based construction technology firm with 20,000 employees in more than 120 countries. Hilti currently houses warehousing and distribution operations in the space.
Prologis Seneca Park is an industrial park consisting of approximately 500,000 square feet of warehouse/distribution space. Hilti’s space is located in Building 400, a 168,755-square-foot Class A structure offering 30-foot clear heights, dock-high and grade-level doors and a depth of nearly 191 feet.
Prologis Seneca Park is centrally located in the heart of Broward County equidistant to Fort Lauderdale-Hollywood International Airport and Miami International Airport, seaports and business centers. The property also offers excellent access to Interstate 95, Interstate 595, Florida’s Turnpike, Interstate 75 and the Sawgrass Expressway.
“Prologis Seneca Park continues to be a great fit for Hilti,” said Etner. “The park’s location in the heart of South Florida’s world-class transportation network provides them with the requisite options and flexibility for an international distributor.”
Cushman & Wakefield’s 1Q 2016 Broward County Industrial MarketBeat Report reveals that the Davie/Pembroke Pines/Miramar submarket is the second-largest in Broward County with over 13 million square feet of inventory. The submarket boasts above-average leasing activity and has also posted above-average warehouse and distribution rents.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
