The Real Deal Miami

SoFla lease roundup: Spec industrial park in Pompano reaches 67% occupancy

Leases also at the Conrad Miami tower and in Hollywood
By Amanda Rabines | November 12, 2018 09:45AM

Pompano Center of Commerce II and the Conrad Miami tower in Brickell

Spec industrial park in Pompano reaches 67% occupancy

Three new tenants have inked leases at Pompano Center of Commerce II, a new, four-building spec warehouse and distribution campus totaling more than 376,600 square feet.

The complex secured 76,105 square feet of leases, pushing occupancy up to 67 percent. Three of the buildings are completed and the fourth is underway.

Cushman & Wakefield’s Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister represented the landlord Pompano Industrial Venture, LLC, which is a joint venture between Butters Construction and Development and a private capital partner.

The new tenants include Crown Products, which provides waste disposal bags packaged for personal and public use. The company was represented by Les Byron of Sperry Van Ness. It secured a 28,787-square-foot lease at 1650 Northwest 18th Street.

Warehouse Restaurant Supply leased a 26,100-square-foot space at 1600 Northwest 18th Street, which it intends to use as a showroom, warehouse and distribution center. The kitchen goods company was represented by Scott Gordon of Newmark Partners.

Gourmet Innovations relocated from Fort Lauderdale and leased 21,291 square feet at 1550 Northwest 18th Street. The company specializes in compressed gas products for cooking. Howard Elfman of Distinctive Home Realty represented the company.

Brickell Bank renews lease at 1395 Brickell Avenue

Brickell Bank just renewed its lease at 1395 Brickell Avenue, following a trend of tenants in the area renewing prematurely in anticipation of increasing rents.

The 37,000-square-foot long-term lease was set to expire next year. Brickell Bank’s executive offices occupy 33,000 square feet and roughly 4,000 square feet of ground-floor retail space for its banking branch.

Avison Young’s Scott Goldstein and Keith Edelman secured the renewal.

The 36-story, mixed-use tower features 15 stories of office space, 116 luxury condominium units and the Conrad Hotel. Last year, Mast Capital and Angelo Gordon & Co. paid $72 million for the Conrad Miami.

Brickell Bank serves mainly wealthy Latin American clients. In 2014, the bank was ordered by the Federal Deposit Insurance Corporation to find a new owner. It was sold earlier this year to the Swiss financier Joseph Benhamou.

miVIP expands to Hollywood with new lease

Outpatient surgery center miVIP just expanded to Hollywood.

The company inked a 5,500-square-foot lease at 3475 Sheridan Street, marking its third location in South Florida. FIRM Realty represented the company in the lease negotiations.

miVIP has centers in New York, Nevada and California. It provides small-scale surgical treatments.