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Sawgrass Distribution Center 760-770 International Pky 132,180 SF 100% Leased Industrial Building Sunrise, FL 33325 For Sale
Investment Highlights
- INSTITUTIONALLY MAINTAINED CLASS A LIGHT INDUSTRIAL LOCATED WITHIN WEST BROWARD’S PREMIER BUSINESS PARK – SUNRISE INTERNATIONAL CORPORATE PARK
- TREMENDOUS MARK TO MARKET OPPORTUNITY WITH AVERAGE IN-PLACE RENTS 22% BELOW MARKET
- STAGGERED ROLLOVER OF LEASES PROVIDES AVENUE FOR ACCELERATED RENT GROWTH
- STRONG IN-PLACE CASH FLOW PROVIDED FROM STICKY TENANT BASE WITH IMMEDIATE UPSIDE
- MISSION CRITICAL, HIGHLY SPECIALIZED MULTI-TENANT INDUSTRIAL FACILITY
- DIVERSIFIED TENANT BASE ACROSS KEY INDUSTRIES THAT PROVIDE DOWNSIDE PROTECTION
Executive Summary
JLL is pleased to exclusively offer the opportunity to acquire Sawgrass Distribution Center, a best in class, multi-tenant infill industrial building totaling 131,800 leasable square feet at the heart of the West Broward submarket in Sunrise, FL - one of South Florida's most supply constrained pockets with zero SF delivered or under construction over the last 12 months. The Property boasts exceptional regional connectivity just 5 minutes from the Sawgrass Expressway and I-595 providing easy access to South Florida's major transportation arteries, FLL Airport, and Port Everglades.
The Property's highly functional design and premier infill location have translated into outstanding leasing performance and high retention rate, highlighted by 100% occupancy and an average tenant tenure exceeding six years. Configured into seven bays averaging 16,475 square feet, the asset directly aligns with the deepest and most liquid segment of tenant demand in Broward County, where approximately 40% of leases executed over the past two years were for spaces under 25,000 square feet.
Sawgrass Distribution Center has a diversified mix of entrenched, national and regional tenants operating in highly specialized and temperature controlled spaces — a segment that commands premium rents and strong renewal probability. With less than two years of weighted average lease term remaining, investors are presented with a compelling value-creation opportunity, including the ability to mark in-place rents to market by approximately 28% and drive NOI growth of roughly 62% over the first five years of the pro forma.
SAWGRASS DISTRIBUTION CENTER OFFERS A RARE OPPORTUNITY TO ACQUIRE AN EXCEPTIONALLY WELL-LOCATED PROPERTY IN ONE OF THE US' BEST PERFORMING COASTAL MARKETS WITH STRONG CURRENT INCOME AND POTENTIAL FOR SUBSTANTIAL VALUE CREATION FROM MARK-TO-MARKET AND CONTINUED RENT APPRECIATION IN THE STATE'S MOST SUPPLY-CONSTRAINED MARKET.
The Property's highly functional design and premier infill location have translated into outstanding leasing performance and high retention rate, highlighted by 100% occupancy and an average tenant tenure exceeding six years. Configured into seven bays averaging 16,475 square feet, the asset directly aligns with the deepest and most liquid segment of tenant demand in Broward County, where approximately 40% of leases executed over the past two years were for spaces under 25,000 square feet.
Sawgrass Distribution Center has a diversified mix of entrenched, national and regional tenants operating in highly specialized and temperature controlled spaces — a segment that commands premium rents and strong renewal probability. With less than two years of weighted average lease term remaining, investors are presented with a compelling value-creation opportunity, including the ability to mark in-place rents to market by approximately 28% and drive NOI growth of roughly 62% over the first five years of the pro forma.
SAWGRASS DISTRIBUTION CENTER OFFERS A RARE OPPORTUNITY TO ACQUIRE AN EXCEPTIONALLY WELL-LOCATED PROPERTY IN ONE OF THE US' BEST PERFORMING COASTAL MARKETS WITH STRONG CURRENT INCOME AND POTENTIAL FOR SUBSTANTIAL VALUE CREATION FROM MARK-TO-MARKET AND CONTINUED RENT APPRECIATION IN THE STATE'S MOST SUPPLY-CONSTRAINED MARKET.
Property Facts
Amenities
- Bus Line
- Signage
Utilities
- Gas - Natural
- Water - City
- Sewer - City
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Fairly walkable
40/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 49-40-34-03-0015 | Improvements Assessment | $14,693,640 |
| Land Assessment | $3,906,980 | Total Assessment | $18,600,620 |
Property Taxes
Parcel Number
49-40-34-03-0015
Land Assessment
$3,906,980
Improvements Assessment
$14,693,640
Total Assessment
$18,600,620
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Sawgrass Distribution Center | 760-770 International Pky
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