Industrial project expected to be completed in 2020
By Keith Larsen | January 07, 2019 -The Real Deal
Butters Construction & Development and a BlackRock fund are planning a new industrial complex in Tamarac.
City Furniture sold the vacant 22-acre site at the corner of North Hiatus Road and West McNab Road for about $15.5 million in December to the joint venture.
The companies just announced that the project, which calls for two distribution buildings totaling 355,000 square feet, can accommodate tenants ranging from 5,000 to 100,000 square feet. Construction will begin in the second quarter of 2019, and the project is expected to be completed by the third quarter of 2020, according to a press release.
Malcolm Butters of Butters Construction & Development said some of the tenants in the office park could be e-commerce companies, pharmaceutical companies, or potentially an aviation parts manufacturer.
The deal reinforces the heightened demand for industrial properties in South Florida and Broward County, where developable land is scarce.
Leasing will be handled by Cushman & Wakefield’s Chris Metzger and Richard Etner.
Butters Construction & Development broke ground last year on the second phase of its 75-acre Hillsboro Technology Center, a commercial and industrial development that will total about 1 million square feet when completed.