Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew McAllister Represented Ownership in Lease Renewal Negotiations
POMPANO BEACH, FL, February 22, 2019 — Cushman & Wakefield has negotiated a 95,540-square-foot warehouse and distribution lease renewal with Fairn & Swanson, Inc. at 701 NW 33rd Street in Broward County.
The Cushman & Wakefield South Florida Industrial Team of Christopher Metzger, Richard F. Etner, Jr., Christopher Thomson and Matthew G. McAllister represented building owner Prologis (NYSE:PLD) in the renewal negotiations. The Cushman & Wakefield Team worked in conjunction with Prologis Senior Leasing Manager Barbara Mantecon.
“Our strategically located properties and internal property management continue to have unparalleled value for our customers,” said Mantecon.
Oakland, CA-based Fairn & Swanson, Inc. was founded in 1949 and supplies travelers with a wide variety of retail products including food, beverages, personal care products, fragrances and accessories. The company distributes these products globally via cruise lines, commercial shipping ports, international border crossings, overseas military installations and diplomatic offices. The company has warehouses and distribution facilities in Pompano Beach, Los Angeles and Seattle.
Fairn & Swanson, Inc.’s Pompano Beach location serves as a warehouse and distribution hub for its Caribbean operations. 701 NW 33rd Street is one of four buildings comprising a 365,640-square-foot warehouse and distribution campus developed between 1991 and 1992 at NW 33rd Street. 701 NW 33rd Street is a bulk warehouse and distribution facility offering 24’ clear heights, dock-high loading doors and three-phase power. Cushman & Wakefield leases all four buildings for Prologis. The campus is currently 100% leased. Other notable tenants include Woodfield Distribution, JB Hunt, USA Marble and Pennzoil.
“Fairn & Swanson was eager to maintain its central location in the South Florida market where it ably serves the Caribbean tourism industry,” said Metzger. “701 NW 33rd Street’s central location in the Tri-County area provides Fairn & Swanson with exceptional access to the region’s major ports, both sea and air.”
The seven-member South Florida Industrial Team led by Metzger, Etner Jr., and Thomson negotiated just over 2.3 million square feet of sales and leases valued at more than $163 million in 2018. For more information, please visit www.southfloridaindustrialteam.com.
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 768 million square feet (71 million square meters) in 19 countries. Prologis leases modern distribution facilities to a diverse base of approximately 5,100 customers across two major categories: business-to-business and retail/online fulfillment.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value 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.