Posted on March 15, 2016 · Posted in Industrial / Flex, Land

IDI Gazeley has proposed plans for an industrial building in Pompano Beach.

The application for the Pompano Business Center is set to go before the city’s Development Review Committee on March 16.

Pompano Business Center - IDI Gazeley 2The 143,563-square-foot industrial building would be on the 11.3-acre site on the northwest corner of West Copans Road and Blount Road. It’s just east of Florida’s Turnpike, although there’s not an exit at that location.

The company is working with Sun-Tech Engineering on the application. The national industrial developer acquired the property for $1.33 million in 2006.

IDI Senior VP Scott Helms said the developer has built about 1.5 million in 12 buildings in the area in the past, but it hasn’t done construction in Pompano Beach since 2008. The industrial market there got hit harder than other parts of Broward County during the recession because many of the tenants were in the residential building industry, but now the market in Pompano Beach has caught up, he said.

“Pompano has always been a good industrial market,” Helms said. “It’s in a central part of South Florida so for a company that wants to distribute to all three counties it’s a good location.”

The Pompano Business Center isn’t all IDI has planned for Pompano Beach. Helm said it plans to submit a development application soon to build four buildings for a combined 500,000 square feet on a 36-acre site just north of there along Florida’s Turnpike.

According to CBRE’s fourth quarter Broward industrial report, there are 341,000 square feet of buildings under construction, but nothing in the Pompano Beach/Fort Lauderdale area. The vacancy rate in Pompano Beach/Fort Lauderdale was a relatively low 4.2 percent and the asking lease rate was $7.16 per square foot.

 

Source: SFBJ

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