The Real Deal Miami

Broward to consider bid to lease, develop port parcel

A joint venture wants to build a 250,000-square-foot warehouse and attached office building

November 27, 2016 02:00PM

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Port Everglades

Port Everglades

The Broward County Commission on Tuesday will consider whether to work with a bidder who wants to lease and develop land at Port Everglades or to consider other bids.

Port Everglades International Logistics Center LLC proposed leasing 16.7 acres at the port for construction of a warehouse spanning about 250,000 square feet with an attached office building.

The bidder is a joint venture of ANF Group, International Warehouse Services, and Treadwell Franklin Infrastructure Capital.

The county commission would schedule public hearings to discuss the joint venture’s proposal on December 13 and January 10 if it votes to bypass a procedure for considering alternative proposals.

Port Everglades International Logistics Center LLC proposed a 30-year ground lease with an optional 20-year extension. The joint venture would make county lease payments over the initial 30-year term totaling almost $23 million.

The county, however, would pay the joint venture $3 million for building office space to house the operator of the Foreign Trade Zone at the port.

The joint venture estimated that the construction work at Port Everglades would cost $2.5 million and would take 27 months. [South Florida Business Journal] — Mike Seemuth

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