Richard F. Etner Jr., Chris Metzger, Christopher Thomson and Matthew G. McAllister Represented Owner Exeter Property Group in Securing the Lease at 4250 Coral Ridge Drive
CORAL SPRINGS, FL, September 20, 2018 — Cushman & Wakefield has negotiated a long-term, 105,642-square-foot lease with Aldora Aluminum and Glass Products at 4250 Coral Ridge Drive in northern Broward County.
The South Florida Industrial team of Richard F. Etner Jr., Chris Metzger, Christopher Thomson and Matthew G. McAllister negotiated the lease on behalf of Conshohocken, PA-based building owner Exeter Property Group. MJ Ridenour of Coldwell Banker Commercial NRT represented Aldora.
Aldora is an industry leader in glass and aluminum fabrication, producing a full line of glass, mirror, window and facade products, including hurricane-resistant aluminum storefronts and entry systems. The company is currently headquartered in Miramar at 11500 Miramar Parkway, but will relocate those operations to 4250 Coral Ridge Drive by the summer of 2019.
Aldora serves more than 500 glaziers from North Carolina to the Caribbean and currently operates five manufacturing facilities in Hialeah, FL, Miramar, FL, Orlando, FL, Charleston, SC, and Louisville, KY, and two distribution centers in Pompano, FL and Charlotte, NC.
4250 Coral Ridge Drive, formerly known as the Alliance Building, is being fully renovated by Exeter Property Group to modern institutional standards. The existing 193,211-square-foot building will be part of a four-building, 567,846-square-foot distribution development known as Coral Springs Commerce Center II.
Situated off Coral Ridge Drive and only minutes from the Sawgrass Expressway, Coral Springs Commerce Center II will be strategically positioned in the west Broward County city of Coral Springs. Providing ample clear height and multiple configurations, Coral Springs Commerce Center II will accommodate a wide range of users looking to capitalize on reduced congestion and convenient access to the Sawgrass Expressway, Interstate 95 and Florida’s Turnpike while offering some of the most aggressive rental rates in Broward County.
“Coral Springs Commerce Center II represented a unique opportunity for Aldora to procure significant office and manufacturing space under one roof,” said Etner. “Versatile availabilities of this scale are a rare find in the Broward market and allow for the operational efficiencies modern manufacturers crave while avoiding the expense and delay of built-to-suit development.”
Etner, Metzger, Thomson and McAllister have a long history with this property. The team represented Exeter Property Group in its acquisition of the asset from Hoerbiger Corporation of America in September 2017. The team also negotiated The Enthusiast Network’s sale of the asset to Hoerbiger Corporation of America in July 2015.
The nine-member South Florida Industrial team led by Metzger, Etner Jr., Thomson and McAllister has negotiated nearly 1 million square feet of sales and leases valued at more than $61 million in 2018. For more information, please visit www.southfloridaindustrialteam.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.