search

The Real Deal Logo

Trending

H-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlords“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment deal“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment dealLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a
South Florida

Embraer Executive Jets inks new lease, expands in Hollywood

Building 500 at the Port 95 business park
Building 500 at the Port 95 business park

Embraer Executive Jets has touched down in Hollywood.

The aircraft manufacturer inked a long-term lease for space at a Prologis-owned industrial park, relocating and expanding its operations in South Florida.

Embraer signed a 22,100-square-foot lease for building 500 at the Prologis Port 95 commerce park, which it has agreed to occupy for the next five years. The company is relocating its repair and distribution center from Fort Lauderdale, according to an announcement of the lease from brokerage CBRE.

Sign Up for the undefined Newsletter

Located at 3655 Southwest 30th Avenue, the commercial park is less than a mile west of the Fort Lauderdale-Hollywood International Airport as well as major highways like I-95 and I-595. Prologis bought the 2.4 million-square-foot development for $20 million in May 2015.

“Embraer needed to expand their operation, and while considering consolidation in other parts of the country, opted to remain and expand in Fort Lauderdale,” said CBRE’s Harry Tangalakis, who represented the aircraft manufacturer for the lease. His colleague Tom O’Loughlin represented Prologis.

Embraer Executive Jets is the private plane division of Embraer, a global aviation company headquartered in Brazil. Outside of its private and commercial jets, the firm also develops airplanes for military and agricultural applications. — Sean Stewart-Muniz