{"id":1004716727,"date":"2024-06-11T01:29:20","date_gmt":"2024-06-11T09:29:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004716727"},"modified":"2024-06-11T05:53:32","modified_gmt":"2024-06-11T13:53:32","slug":"tishman-speyer-enters-south-florida-with-100m-buy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-enters-south-florida-with-100m-buy\/","title":{"rendered":"Tishman Speyer Makes $100M South Florida Industrial Debut"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"620\" data-attachment-id=\"1004716728\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-enters-south-florida-with-100m-buy\/rock-lake-courtesy-of-tishman-speyer\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Rock-Lake-Courtesy-of-Tishman-Speyer.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1590511144&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Rock Lake Business Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Rock Lake Business Center. Image courtesy of Tishman Speyer&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Rock-Lake-Courtesy-of-Tishman-Speyer.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Rock-Lake-Courtesy-of-Tishman-Speyer.jpg\" alt=\"Rock Lake Business Center\" class=\"wp-image-1004716728\" style=\"width:373px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Rock-Lake-Courtesy-of-Tishman-Speyer.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Rock-Lake-Courtesy-of-Tishman-Speyer.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Rock-Lake-Courtesy-of-Tishman-Speyer.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption class=\"wp-element-caption\">The Rock Lake Business Center totals 256,000 square feet across two buildings. <em>Image courtesy of Tishman Speyer<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Tishman Speyer has entered South Florida with the acquisition of Rock Lake Business Center in Pompano Beach. IDI Logistics sold the 35-acre property for $100.2 million.<\/p>\n\n\n\n<p>The industrial campus currently includes two fully leased warehouses totaling 256,000 square feet. In addition, the property was entitled for the development of two rear-load buildings encompassing 243,000 square feet.<\/p>\n\n\n\n<p>Completed in 2020, one of the existing warehouses totals 136,538 square feet while the other stands at 119,222 square feet. The buildings feature 32-foot clear heights, 84 dock high drive-in doors, 690 car parking spaces, shared 185-foot truck courts, ESFR sprinklers and conditioned warehousing space.<\/p>\n\n\n\n<p>Located at 3150-3250 NW 33rd St., Rock Lake Business Center is alongside Florida&#8217;s Turnpike, with proximity to Interstate 95. Fort Lauderdale, Fla., is 16 miles south of the campus while the Miami International Airport is some 41 miles away. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-miami-s-industrial-scene\">Miami\u2019s industrial scene<\/h2>\n\n\n\n<p>The Miami-area industrial market has been a hot spot. In terms of in-place rent growth, the metro ranked second nationally in April with a 12 percent year-over-year increase, the latest <a href=\"https:\/\/www.commercialsearch.com\/news\/boosting-u-s-manufacturing-spurs-construction-boom\/\" target=\"_blank\" rel=\"noreferrer noopener\">CommercialEdge report<\/a> shows. Furthermore, Miami was the only one in the top five markets for rent growth with more than 2 percent (3.1 percent) of its stock currently under construction.<\/p>\n\n\n\n<p>Recently a 40-acre <a href=\"https:\/\/www.commercialsearch.com\/news\/bbx-logistics-pccp-break-ground-on-miami-area-industrial-park\/\">campus in Delray Beach, Fla., broke ground<\/a>. The project&#8217;s first phase is a 200,000-square-foot building anticipated to deliver mid-next year.<\/p>\n\n\n\n<p>Meanwhile, another 186,000-square-foot facility has just entered the Hialeah, Fla., inventory. <a href=\"https:\/\/www.commercialsearch.com\/news\/terreno-realty-completes-186-ksf-facility-near-miami\/\" target=\"_blank\" rel=\"noreferrer noopener\">The Countyline Corporate Park Phase IV Building 40<\/a> is part of a larger, $511.5 million project.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This campus was fully leased at the time of purchase.<\/p>\n","protected":false},"author":3006,"featured_media":1004716728,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,1492,21742,32781],"tags":[40218,33224],"class_list":["post-1004716727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-miami","category-latest","category-southeast","tag-idi-logistics","tag-tishman-speyer"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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