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Warehouse

Mears Parkway Industrial Portfolio

2200 Mears Pkwy, Margate, FL 33063

Listing Price: Request For Offer

Gross SF
56,988
Lot Size
4.99 acres
Year Built
1979
Rentable SF
56,988

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to offer for sale the Mears Parkway Industrial Portfolio (the “Property” or “Portfolio”), comprised of four, multi-tenant industrial buildings totaling +/- 57,000 square feet in Margate. The properties are spread across five acres in the Coral Springs submarket, with proximity to Florida’s Turnpike and Interstate 95. The diverse tenant mix consists of 46 tenants on short-term leases, boasting 100-percent occupancy. The Property offers a stabilized cash flow for the new owner with the opportunity to immediately raise rents. Mears Parkway Industrial Portfolio is situated in central Broward County just west of Florida’s Turnpike. The location has close proximity to State Road 7 (US-441), making the Portfolio easily accessible for all tenants. Margate’s central location is ideal for small business owners that are commuting from Miami- Dade or Palm Beach counties. The buildings, constructed in 1979 and 1986, have been owned and operated by the current owners since 1998, and have been well maintained over their entire tenure. Each unit offers tenants a mix of approximately 75 percent warehouse and 25 percent office with a private bathroom. Additionally, the units feature 16-foot clear heights with one 10’ x 10’, grade-level, roll-up door. The Property allows for ample parking with a ratio of nearly four-and-a-half spaces per 1,000 square feet. Mears Parkway Industrial Portfolio is a unique opportunity for an investor to acquire a highly desirable, stable asset with continuously growing rental rates and a diverse mix of tenants with strong historical occupancy. This trophy asset is benefiting significantly from the heightened demand for industrial space throughout South Florida, and its submarket is among the fastest growing in Broward County.

Investment Highlights

  • Premier Small-Bay Asset in the Submarket, Creating Additional Tenant Demand
  • Diversified Rent Roll with a Mix of Tenants Across Many Industries, Minimizing Industry Specific Risk
  • First Time to Market in Over Two Decades
  • Buildout Mix of 25 Percent Office and 75 Percent Warehouse, with 16-Foot Clear Heights

Exclusively Listed By

Warehouse

Mears Parkway Industrial Portfolio

Listing Price: Request For Offer

Gross SF
56,988
Lot Size
4.99 acres
Year Built
1979
Rentable SF
56,988

Investment Highlights

  • Premier Small-Bay Asset in the Submarket, Creating Additional Tenant Demand
  • Diversified Rent Roll with a Mix of Tenants Across Many Industries, Minimizing Industry Specific Risk
  • First Time to Market in Over Two Decades
  • Buildout Mix of 25 Percent Office and 75 Percent Warehouse, with 16-Foot Clear Heights

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to offer for sale the Mears Parkway Industrial Portfolio (the “Property” or “Portfolio”), comprised of four, multi-tenant industrial buildings totaling +/- 57,000 square feet in Margate. The properties are spread across five acres in the Coral Springs submarket, with proximity to Florida’s Turnpike and Interstate 95. The diverse tenant mix consists of 46 tenants on short-term leases, boasting 100-percent occupancy. The Property offers a stabilized cash flow for the new owner with the opportunity to immediately raise rents. Mears Parkway Industrial Portfolio is situated in central Broward County just west of Florida’s Turnpike. The location has close proximity to State Road 7 (US-441), making the Portfolio easily accessible for all tenants. Margate’s central location is ideal for small business owners that are commuting from Miami- Dade or Palm Beach counties. The buildings, constructed in 1979 and 1986, have been owned and operated by the current owners since 1998, and have been well maintained over their entire tenure. Each unit offers tenants a mix of approximately 75 percent warehouse and 25 percent office with a private bathroom. Additionally, the units feature 16-foot clear heights with one 10’ x 10’, grade-level, roll-up door. The Property allows for ample parking with a ratio of nearly four-and-a-half spaces per 1,000 square feet. Mears Parkway Industrial Portfolio is a unique opportunity for an investor to acquire a highly desirable, stable asset with continuously growing rental rates and a diverse mix of tenants with strong historical occupancy. This trophy asset is benefiting significantly from the heightened demand for industrial space throughout South Florida, and its submarket is among the fastest growing in Broward County.

Exclusively Listed By

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