PRESS RELEASE
Bristol Group and Butters Deliver Phase III at Hillsboro Technology Park
San Francisco (October 30, 2018) – After completing the successful lease up of Phase I and Phase II at Hillsboro Technology Center, San Francisco-based Bristol Group and Butters Construction & Development have now completed construction on a two building 275,000 square foot Phase III warehouse addition at the project located in Deerfield Beach, Florida.
Hillsboro Technology Center is a 925,000 square foot state-of-the art Class A business park centrally located off a four-way interchange of I-95 at Hillsboro Boulevard, which strategically positions tenants to serve the entire South Florida market. Phase I and Phase II of the development consisted of two Class A industrial buildings, totaling 260,000 square feet, and a state-of-art two story office building totaling 86,000 square foot. All three buildings in Phase I and II were 100% leased soon after completion in early 2018 after securing major tenants such as UPS, The Learning Experience, ShipMonk, Barwis Methods, Rhino Paper and Empire Today. At completion, the entire business park will feature six state-of-the-art Class A warehouse distribution facilities and a newly constructed two story office building, as well as a Marriott Fairfield Inn & Suites hotel and a premier on-site day care center operated by The Learning Experience.
The Phase III addition at Hillsboro received a very positive reception by the tenant market and was 36% pre-leased during construction. Phase III consists of two high cube Class A industrial buildings totaling 275,114 square feet and can accommodate tenants ranging from 8,500 to 152,000 square feet. The industrial buildings will highlight cutting-edge design and LEED efficiencies to accommodate multiple high-end distribution and light manufacturing users. With column-free units starting at 8,567 square feet, the buildings feature 52 to 56 foot wide column spacing, which will allow for unparalleled efficiency with a minimum of four dock doors per bay. The buildings offer a unique sloped roof systems that provides tenants with warehouse clear heights averaging 32 and 34 feet, respectively. Additionally, the buildings feature ESFR sprinklers, motion activated T5 warehouse lighting, clerestory windows, and an ability to provide for heavy power.
“We’re excited to expand on an already successful business park in Deerfield Beach and we’ve already secured three new tenants during construction. This location along I-95 has proven to attract a large variety of quality tenants looking to strategically service the entire South Florida market. It’s really the only set of new industrial buildings at an I-95 interchange in South Florida.” Said Malcolm Butters, President of Butters Construction and Development.
David Williams, Managing Director and head of industrial acquisitions for Bristol Group in South Florida states “We’re extremely excited about the success Hillsboro Technology Center has enjoyed in the short timeframe since we broke ground on the project. The site’s strategic location two miles south of Boca Raton on the county line between Broward and Palm Beach counties has proven to attract small and medium sized tenants looking to migrate out of more expensive and older in-fill markets without traveling very far. Hillsboro offers these tenants the best of both worlds – a highly efficient modern facility in a Class A business park environment at a much lower operating cost.”
Located just one exit south of Boca Raton, the park is conveniently situated 18 miles north of Port Everglades and Fort Lauderdale International Airports, and 25 miles south of Palm Beach International Airport and West Palm Beach.
Tom Hotz and JC Conte of Butters Realty & Management is representing ownership to lease the project.
About Bristol Group
Bristol Group, Inc. founded in 1980, is a nationally active real estate investment and development firm based in San Francisco. The firm has acquired, developed or redeveloped over $2.5 billion of real estate, which includes over 22 million square feet of commercial properties. Bristol’s current real estate portfolio consists of industrial, self-storage, multi-family, retail and office properties nationwide. In the past two years, Bristol Group has acquired or developed over $230 million worth of commercial real estate assets throughout the United States. For more information go to www.bristolgroupinc.com
About Butters
Butters is a fully integrated real estate development, construction, realty and management firm founded in 1990. Based in Coconut Creek, Florida, the company has developed and constructed more than 15 million square feet of commercial space in South Florida and currently manages and leases more than 4 million square feet. The company’s clients and partners include Bristol Group, Principal Life Insurance Co., Morgan Stanley, Fidelity Investments, KTR Capital Partners and Prologis. For more information go to www.butters.com