CBRE Senior Vice Presidents Tom O’Loughlin and Larry Genet, along with Associate Michael Oretsky, who manage the leasing for Powerline Business Park, a 500,000-SF small bay industrial park in Pompano Beach, have increased the occupancy from 80% at the start of 2020 to 95%.
“The increased leasing activity of small business owners in Pompano Beach has shown the resiliency of the market,” commented Oretsky. “We will continue to push rate and term for ownership.”
“Our team has signed a tremendous number of leases at this property year to date,” added O’Loughlin. “This was only possible due to ownership’s flexibility and entrepreneurial nature.”
The project, which is owned by Stockbridge, consists of 26 buildings featuring up to 20’ clear heights, dock and drive in loading, glass storefronts, heavy parking ratios, and Powerline Road frontage with 40,000+ traffic counts. Stockbridge owns over 51.7M square feet spanning the entire United States.
The team of Tom O’Loughlin, Larry Genet, Larry Dinner, Michael Oretsky, and Jake Zebede represent over 13.5 million square feet throughout South Florida. The team successfully closed 150 transactions worth over 1 billion dollars in total consideration in 2019. The team was voted 2019’s Top Industrial Team at the NAIOP Annual Awards Ceremony.
About Tom O’Loughlin: CBRE Senior Vice President Tom O’Loughlin specializes in providing brokerage services to owners and occupiers of industrial property in the South Florida region. Tom’s experience incorporates representation for local, regional and national clients, and includes investment sales disposition, owner-occupant acquisitions, tenant agency, and landlord representation. With over ten years of experience in the industrial sector, Tom has provided oversight for more than 13 million square feet in leasing and sales transactions in Broward and Miami-Dade counties. Tom holds the prestigious SIOR and CCIM designations and is an active member of CBRE’s Industrial Advisory Council—a select national group of professionals gathering and evaluating business intelligence to develop comprehensive business strategies for the company.
About Larry Genet: CBRE Senior Vice President Larry W. Genet has extensive experience in landlord agency, tenant representation, acquisitions, dispositions and property management. As a third-generation commercial real estate professional and South Florida native, Larry boasts deep community ties, an intimate knowledge of the South Florida market and numerous professional contacts. Larry’s leasing expertise of industrial, office and medical properties coupled with his experience in acquisitions and dispositions gives him the ability to represent a myriad of clients in the South Florida market.
About Michael Oretsky: CBRE Associate Michael Oretsky specializes in agency leasing of industrial and office properties at CBRE, working with Tom O’Loughlin and Larry Genet to represent nearly 14 million square feet across South Florida. He earned his bachelor’s degree from Indiana University, Bloomington majoring in Management and Finance. His financial background is used as an asset for Institutional owners and gives him a unique perspective to real estate.
