DAVIE, FL (May 6, 2024)—Industrial Outdoor Ventures (IOV), a leading investor and owner of industrial outdoor storage properties across the country, has hosted a groundbreaking for its transformational 38.51-acre, two-building industrial development at 3055 Burris Road in Davie, Florida to mark the formal start of construction of its speculative development.
When completed, the project will deliver approximately 227,000 square feet of modern, high-cube industrial and service facility space along with extensive asphalt surface area to accommodate outdoor storage and trailer parking. The development can meet the needs of e-commerce, distribution, corporate headquarters or manufacturing operations with heavy parking requirements.
“This is an exciting project at an opportune time for IOV and the South Florida industrial community,” said Tom Barbera,” CEO, Industrial Outdoor Ventures. “There are no sites of similar scale currently available. Further, because there has been a lull in development activity, delivering the project when we do should give us a distinct competitive advantage in the market.”
The groundbreaking commemorated the formal start of construction and was attended by team members from Industrial Outdoor Ventures, Stockbridge, CMC Group, Town of Davie, CBRE, Keith Engineering and Corrales Group Architects.
“South Florida is one of the tightest industrial markets, across all product types, in the country,” said Eric Johnson, Senior Vice President of Development and Acquisitions, Industrial Outdoor Ventures. “The strong market fundamentals continue to spur growth activity and we expect to capitalize on that ongoing demand.”
There are three distinct components to the Davie Industrial Center development:
· Distribution Building—this modern distribution building will total 184,957 square feet. It can be leased to a single user but is also divisible to approximately 60,000 square feet. The building features 36’ clear ceiling height, 51 exterior docks and 4 drive-in-doors. The bay size is 54’ x 200’. The office space is to suit the needs of the tenant(s) and could range from 5,000 square feet for divisible units up to 18,000 square feet for a single user.
· Service Building—this 42,000-square-foot building is divisible to 21,000 square feet. With 24’ clear ceilings, the service building features 36 grade-level doors and 18 service bays (39’ x 100’). The office space, totaling 7,200 square feet, will be finished to suit. The building sits on 9 acres and will have parking for 115 truck trailers.
· Outdoor Storage (12.64 Acres)—the remainder of the site is designated for outdoor storage and trailer parking. The 12.64 acres can be divided and leased in 2-acre increments.
Site work is currently underway and focused on soil stabilization and creating pad-ready sites for the buildings. IOV expects to install the steel and go vertical with Building 1 and Building 2 in May and June, respectively. The paving of the site and storage yard areas should occur in the early Fall. Construction will continue through the end of the year with the expected delivery of move-in-ready buildings by early January 2025.
“IOV and Stockbridge are building the first Class A Bulk Distribution Building in South Florida on a low-coverage site,” said Tom O’Loughlin, Executive Vice President, CBRE. Along with Larry Genet, also an Executive Vice President at CBRE, O’Laughlin is marketing the property for lease.
“This new development will provide users with tremendous flexibility for large-scale truck parking, laydown yards, and/or other IOS-type uses,” he added. “The property combines the benefits of a Class A Bulk Distribution Building and unlimited outside storage options at scale.”
The prominent in-fill development offers tremendous location and access benefits. The high-visibility site is between I-95 and the Florida Turnpike just south of I-595 with immediate access to all major highways. Located in a qualified HUBZone, the site is within close proximity to Ft. Lauderdale Airport, Port Everglades, Miami Airport and both downtown Ft. Lauderdale and Miami.
Among the significant tenants in the area include Pepsi, Clorox, Shipmonk, XPO, Publix, Old Dominion and major e-commerce companies.
IOV acquired the site, which formerly was operated as Twin Lakes Travel Park, in 2021.
Members of the development team include Tom Barbera, CEO and Eric Johnson, Senior Vice President of Development & Acquisitions and Rob Chase, Director of Construction & Properties with Industrial Outdoor Ventures, CMC Group, Corrales Group Architects, Schmidt Nichols, and Keith Engineering.
https://www.industrialoutdoor.com/
