JV to Build 750 KSF Office/Warehouse Park in South Florida
- Feb 01, 2017
Pembroke Pines, Fla.—Core5 Industrial Partners and Helms Development have announced the acquisition of a 60-acre parcel at 20421 Sheridan St. in Pembroke Pines, Fla. This acquisition marks Core5’s entry into Florida and will be the first project for the newly-formed Helms Development. CBRE’s team of Larry Dinner, Larry Genet and Tom O’Loughlin will handle leasing.
The joint venture plans to transform the property into a distribution park named South Florida Distribution Center, which will house 750,000 square feet of Class A office and warehouse space among three buildings. Construction on the first phase of the project, a speculative 223,008-square-foot building, will begin in April 2017. The site is one of the last remaining in Southwest Broward to offer build-to-suit options for larger users and a distinctive advantage with trailer parking—an option no other property has.
“The property is sited perfectly to benefit tenants that want to service both the east and west coast of southern Florida. It is within 75 minutes of Naples/Ft. Myers and still less than an hour from 85 percent of the tri-county’s population,” said Scott Helms, principal of Helms Development, in prepared remarks. “Suburb interstate access, coupled with the trailer parking advantage, offers an unheard-of advantage for e-commerce and office warehouse distribution companies needing to serve the population in South Florida as well as points north of the site.”
Image courtesy of Core5 Industrial Partners