Christopher Thomson, Chris Metzger, Richard F. Etner, Jr. and Matthew G. McAllister Negotiated the Light Industrial Lease in the Newly-Developed Building 25
The Cushman & Wakefield South Florida Industrial Team of Christopher Thomson, Chris Metzger, Richard F. Etner, Jr. and Matthew G. McAllister negotiated the lease on behalf of building owner NHT Palm Beach, LLC. Spartan Motors was represented by Mike Carl and Jeff Hartsook of Cresa.
Spartan Motors leased space in Building 25, a new Class A light industrial building offering build-to-suit offices, 36-foot clear heights, an ESFR (Early Suppression, Fast Response) fire safety system, column spacing ranging from 52 to 60 feet, 56 dock-high doors, two oversized ramps, grade-level loading, rail-to-site availability, a 185-foot truck court and available monument signage. The company will move into the space this summer.
The ±220,000-square-foot building was developed in 2019 on an ±18.0-acre site at 15335 Park of Commerce Boulevard in Palm Beach Park of Commerce. Building 25 is approximately 70% leased. Other tenants in the building include Niagara Bottling.
Charlotte, MI-based Spartan Motors is a leader in specialty vehicle manufacturing and assembly for the commercial and retail vehicle industries, as well as for recreational vehicle markets. The company employs approximately 2,300 people, and operates facilities in Michigan, Indiana, Pennsylvania, South Carolina, Florida, Missouri, California, Arizona, Texas and Mexico.
The master-planned Palm Beach Park of Commerce is the largest entitled industrial site in South Florida, spanning 1,200 acres with the potential for 6.5 million square feet of industrial development. The park offers in-place infrastructure and direct rail access to the Port of Palm Beach. More than 75 percent of Florida’s population resides within a one-day drive of the park.
Palm Beach Park of Commerce is already home to over 40 businesses and more than two million square feet of industrial development. Notable tenants include Walgreens, CSX, Verizon Wireless, Mountain Productions, Niagara Bottling, Florida Power & Light and McLane.
“Palm Beach Park of Commerce attracts users like Spartan Motors with state-of-the-art facilities and exceptional access to the Tri-County area and the Treasure Coast through Interstate 95 and Florida’s Turnpike,” said Thomson. “The park’s flexible zoning and larger parcels make it very attractive for manufacturers and distributors.”
The eight-member South Florida Industrial team led by Metzger, Etner Jr., Thomson and McAllister negotiated just over 12 million square feet of sale and lease transactions valued at more than $252 million in 2019. 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 for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 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.