BLP Rapidly Leasing Properties Amid High Demand
The logistics sector continues its strong performance despite current economic headwinds. Vacancies remain near historic lows in markets across the U.S.
Many markets still face acute shortages of warehouse space. In some places, this has created significant supply chain backups for shippers and retailers. These backups are among the many factors spurring continued demand for further development and creating upward pressure on rents, especially in markets with high barrier to entry.
BLP continues to selectively pursue opportunities in these difficult-to-access markets. We are pleased to announce two more strategic acquisitions as we continue to lease up our properties (see below).
As always, thank you for being part of our network!
DEAL NEWS
290 SW 14th Avenue, Pompano Beach, FL
BLP is excited to announce the acquisition of 290 SW 14th Avenue, a 30,608 SF facility on 2.18 AC located immediately along the I-95 spine in Pompano Beach, Central Broward County. Once improved, this unique, value-add repositioning will offer will offer two-sided loading across 6 dock-high positions, drive-in capabilities, 146’ truck court, and a lot coverage/floor area ratio of 32%, which is significantly below the market average for 2nd generation inventory in South Florida.
Thank you to Jordan Beck of Berger Commercial Realty for assisting in the closing of this transaction. Please reach out to Jordan (954-802-6031) or Mac Lee at BLP (484-888-3103) with any leasing inquiries.
270 & 280 Corporate Drive, Lewisville, TX
BLP is excited to announce the acquisition of 270 & 280 Corporate Drive (7,200 SF and 117,843 SF, respectively), a two building, Class A industrial portfolio in the Northwest (Lewisville) submarket of Dallas-Fort Worth. Prior to closing, BLP successfully pre-leased the entirety of 280 Corporate Drive to SMS InfoComm Corporation.
The larger warehouse exhibits a side-load configuration, 32’ clear height, 130’ truck court, 0.3 AC of outside storage, and 60’x50’ column spacing. 270 Corporate Drive is currently available for lease and features an 18’ clear height with 1 loading position over 7,200 SF.
Thank you to Eric Crutchfield and Mac Hall of Stream Realty for assisting in the closing and leasing of this transaction. For leasing inquiries, please reach out to Eric & Mac of Stream Realty or Ryan Grable of BLP
Leasing News
299 Beltway Green Boulevard, Pasadena, TX
BLP is excited to announce the execution of a 65,278 SF lease with Ryder Integrated Logistics at 299 Beltway Green Blvd, a recently acquired, 130,023 SF Class A front-load warehouse in the Southeast submarket of Houston. The property still has one, 64,745 SF suite available for lease with 2,328 SF of spec office in progress.
Thank you to Gray Gilbert and Jack Gilbert of Partners Real Estate for their assistance in executing this lease. For leasing inquiries, please reach out to Gray or Jack of Partners Real Estate or Ryan Grable of BLP.
1471 W Hillsboro Boulevard, Deerfield Beach, FL
BLP is excited to announce the execution of a 30,800 SF lease with ABC Supply Co., Inc. at 1471 W Hillsboro Blvd, a 71,820 SF, front-load warehouse located less than 0.5 miles from the I-95 interchange in Deerfield Beach in Northern Broward County.
Thank you to Larry Genet, Tom O’Loughlin, and Michael Oretsky at CBRE for their assistance in closing this transaction.
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Bridge Logistics Properties, 1501 Quail Street, Suite 110, Newport Beach, CA 92660, United States