Fort Lauderdale, FL – June 9, 2015 – CBRE has arranged a 10-year lease for a printing company at the Fort Lauderdale Commerce Center. MOR Printing signed a lease for 24,490 square feet at 3585 NW 54 Street in Fort Lauderdale, Florida. CBRE represented the landlord, Industrial Income Trust, in the transaction.
Over the past eight months, CBRE has arranged the sale of over 200,000 square feet and has executed leases totaling over 280,000 square feet at the Fort Lauderdale Commerce Center.
“Demand for industrial space in Broward County remains strong, with overall vacancy rates dropping a full 1.5% since a year ago, arriving at 6.2% in the first quarter of 2015,” said Senior Associate Larry W. Genet of CBRE Industrial Properties. “The
printing, publication, print fulfillment and distribution firms continue to benefit from an improved economy. As the sector bounces back from a tough recession, we have seen numerous commercial printers lease new space and even purchase buildings in the last 12 to 24 months.”
The property leased by MOR features over 2,000 square feet of office space, 18-to-20-foot ceiling heights, heavy power, five dock doors with pit levelers and a truck court spanning approximately 150 feet. MOR Printing was represented by Tom Viscount of Butters Realty and Construction.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
elizabeth.cross (at) cbre (dot) com
melinda.sherwood (at) cbre (dot) com