Blackstone Grows Tenant Roster at Miami-Area Logistics Center

The deals bring the recently completed Pompano Beach asset to full occupancy.

Cypress Pointe Distribution Center. Image courtesy of Cushman & Wakefield

Link Logistics, Blackstone’s U.S. industrial real estate platform, has signed two leases totaling 153,495 square feet at its newly constructed Cypress Pointe Distribution Center in Pompano Beach, Fla. The deals bring the warehouse and distribution facility to full occupancy.

JFC International Inc.—a subsidiary of Asian food distributor Kikkoman Corp.—committed to just under 87,190 square feet. The company will relocate its sales offices and warehouse from its current Pompano Beach space at 1728 Park Central Blvd. S.

The second tenant is Reload Floating Energy, an affiliate of local company AccuSolar and subsidiary of AccuDock, a floating dock manufacturer. The tenant will use the new space for manufacturing, warehouse and distribution purposes.

READ ALSO: Miami’s CRE Highlights of 2021

Situated on a 9.2-acre site, construction of the spec industrial facility broke ground in March 2021 and delivered the same year, according to South Florida Business Journal. Link Logistics acquired the site in 2019 for $9.6 million.

Cypress Pointe offers 153,495 square feet and 32-foor ceiling heights. The building includes an ESFR fire safety system, LED lighting, 40 dock-high doors and two drive-in doors. The property comprises a 120-foot truck court, 54- by 193-foot bay sizes and 54- by 44.5-foot column spacing.

Cushman & Wakefield’s South Florida Industrial Team representing the landlord included Chris Metzger, Rick Etner Jr., Christopher Thomson, Matt McAllister and Merritt Etner. Mike Oretsky, Tom O’Loughlin and Larry Genet of CBRE worked on behalf of JFC, while Jonathan Thiel and Keith Graves of Berger Commercial represented Reload Floating Energy in the negotiations.

Blackstone’s Big Deals

Blackstone’s logistics portfolio went through significant changes in 2021. In September, Link Logistics sold off a 1.9 million-square-foot industrial portfolio in the Minneapolis-St. Paul area. Nicola Wealth Real Estate picked up the 22-building ensemble, marking the company’s debut in the Twin Cities market.

In November, two Blackstone Group affiliates picked up a 124-property industrial portfolio, with assets situated across the U.S. and Europe. The buyer, Cabot Properties, pocketed $2.8 billion in the deal. The U.S. warehouses are spread across South Florida, the New York City metro area, eastern Pennsylvania and the Inland Empire.

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