Christopher Thomson, Richard F. Etner Jr., Chris Metzger and Matthew G. McAllister Represented Owner DRA Advisors LLC in Securing the Lease at 645 Park of Commerce Way
BOCA RATON, FL, November 1, 2018 — Cushman & Wakefield has negotiated a 10-year, 113,191-square-foot headquarters lease renewal with VAS Aero Services at 645 Park of Commerce Way in Palm Beach County.
The South Florida Industrial team of Christopher Thomson, Richard F. Etner Jr., Chris Metzger and Matthew G. McAllister negotiated the lease on behalf of New York-based building owner DRA Advisors LLC.
VAS Aero, formerly The AGES Group and a division of Volvo since 1999, is a leading provider of aftermarket services in the aviation industry. The company sources, warehouses and markets aftermarket components across a broad range of aircraft and engine platforms and provides related services to airlines, leasing companies and maintenance, repair and overhaul (MRO) providers around the world. VAS Aero is the exclusive distributor of material on behalf of The Boeing Company and currently has distribution agreements with GE Aviation, Embraer, Hamilton Sundstrand and Honeywell, among others.
VAS Aero houses its corporate headquarters at 645 Park of Commerce Way, including 100 employees in its sales, warehousing and distribution operations. VAS Aero was founded in 1979 and has occupied the entire building at 645 Park of Commerce Way since 1990.
645 Park of Commerce Way is a 113,191-square-foot flex facility developed in 1984 on a ±7.25-acre site. The building features more than 160 parking spaces, designated loading areas, 12 overhead loading doors, 24-foot clear heights and ±22,300 square feet of Class A office space. The building is 100% air-conditioned and features a five-ton interior crane and full-building fire suppression and back-up generator systems.
The property is located in the The Park at Broken Sound, formerly Arvida Park of Commerce, a 700-acre mixed-use development with 5.2 million square feet of office space and 618,000 square feet of commercial/retail space. Three multifamily communities totaling 1,050 units have been approved for development within the park. The building fronts Interstate 95 just north of the Yamato Road interchange.
“We’re thrilled that VAS Aero has chosen to remain in Palm Beach County,” said Thomson. “They’ve been a tremendous member of our community for nearly 40 years and remain ideally positioned to capitalize on the exceptional location, visibility and accessibility that 645 Park of Commerce Way offers.”
The eight-member South Florida Industrial team led by Metzger, Etner Jr., Thomson and McAllister has negotiated nearly 2 million square feet of sales and leases valued at more than $110 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.