Cushman & Wakefield’s South Florida Industrial Team Earns Top NAIOP Honors
The Team Was Named Industrial Broker Team of the Year and also Took Home the Industrial Lease Transaction of the Year Award
Executive Director Chris Metzger, Executive Director Richard F. Etner Jr., Executive Director Christopher Thomson, Director Matthew G. McAllister; Associate Adam Talbot, Senior Brokerage Coordinator Julie Miller and Brokerage Coordinator Uilani Kauhi were named Industrial Broker Team of the Year. The group also took home Industrial Lease Transaction of the Year honors for their work on Postal Center International’s 225,000-square-foot lease of Weston Business Center.
The South Florida Industrial Team specializes in industrial real estate in Broward, Palm Beach, Martin, St. Lucie and Indian River Counties. The team has worked together in the South Florida market for over 40 years and is heavily invested in the community, maintaining board positions and memberships in numerous organizations such as the Economic Development Council of Pompano Bach, the Foundation Board at Florida Atlantic University, the George Snow Scholarship Fund, NAIOP and the Palm Beach County Business Development Board.
In 2018, the team sold nearly 332,000 square feet of industrial space and 24 acres of land valued at more than $58 million, while executing 111 leases valued in excess of $131 million for more than 3.6 million square feet of space.
“The supply of available land and warehouse space in South Florida remains very limited,” said Metzger. “This places a premium on market knowledge, and we feel our team is uniquely qualified to assist investors, developers, landlords and users given our breadth and depth of experience.”
The South Florida Industrial Team was also awarded Industrial Lease Transaction of the Year for securing a 224,640-square-foot warehouse and distribution lease on behalf of Postal Center International, Inc. (PCI) at Weston Business Center.
PCI now houses its commercial printing, mailing, warehouse, distribution and large manufacturing operations at Weston Business Center. The consolidation lease marked a significant expansion for PCI, growing ±100,000 square feet from its existing footprint of ±121,000 square feet in Miami-Dade and Broward Counties. PCI currently employs approximately 250 people. Its workforce is expected to grow by 50 percent over the next three years at Weston Business Center in Broward County.
“Weston Business Center was a great fit for PCI’s growth needs,” said Etner. Jr. “It is institutionally managed by a premier owner, provides a modern and well-appointed workspace, is centrally located for both its workforce and area of operations and brings everything under one roof, drastically improving operational efficiency.”
CBRE’s Larry Dinner and Tom O’Loughlin, who represented Weston Commerce Center owner Teachers Insurance and Annuity Association of America (TIAA), were recognized by NAIOP for their role in the transaction as well.
The South Florida Industrial team was also nominated for Industrial Sale of the Year in recognition of their efforts to assist Cabot Properties in its $25.8 million acquisition of three multi-tenant warehouse and distribution buildings in West Palm Beach.
The NAIOP Awards of Excellence, held March 14 at the Marriott Harbor Beach Resort & Spa in Fort Lauderdale, honored the top performers in South Florida's commercial real estate industry. It was hosted by NAIOP South Florida, the area’s leading trade organization representing developers, owners, investors and other professionals in commercial real estate. NAIOP South Florida is an affiliate of NAIOP, the Commercial Real Estate Development Association, which represents the interests of commercial real estate professionals across North America.