Silverman Group Secures 1M SF in Major Florida Industrial Lease
By Julia Echikson May 16, 2024 4:53 pm
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BroadRange Logistics signed a 1 million-square-foot warehouse lease at Interstate Crossroads Logistics Center in Fort Pierce, Fla., in what may be Florida’s largest industrial lease year-to-date.
The Atlanta-based company, which provides third-party logistics services, will occupy the entire facility in the next 90 days, according to CBRE, which represented landlord SL Industrial Partners, an affiliate of The Silverman Group. The lease is for 10 years.
This deal will mark BroadRange Logistics’ third warehouse in Florida. Other warehouse locations are in Orlando and Ocala.
“BroadRange is the sixth-fastest-growing third-party logistics company in the country and intends to fill a gap in the South Florida market by offering creative solutions for companies with storage and logistical needs, without the requirement of traditional long-term lease commitments,” CBRE’s Robert Smith said in a statement.
Smith represented the landlord alongside CBRE colleagues Kirk Nelson, Jeff Kelly, David Murphy and Monica Wonus. A spokesperson for Strategic Real Estate Partners, which represented the tenant, did not immediately respond to a request for comment.
In 2021, SL Industrial Partners broke ground on Interstate Crossroads Logistics Center, which sits on 132 acres at 5001 Crossroads Parkway between the Florida Turnpike and Interstate 95. The property features 40-foot ceiling height, 232 dock-high doors, four drive-in doors, 472 parking spaces, and 412 trailer spaces.
Last year, Iberia Foods signed South Florida’s largest industrial lease, taking 398,000 square feet at Bridge Point Commerce Center, according to CoStar.
This year, shipping company Seaboard renewed two leases, totaling 308,000 square feet, at Prologis Palmetto Tradeport in Medley, Fla. Furniture distributor Coaster Fine Furniture renewed its 250,441-square-foot lease at Miramar Park of Commerce.
Julia Echikson can be reached at jechikson@commercialobserver.com.
