Archive for January, 2015
South Florida to Benefit From One of Largest Industrial Land Developments in Recent Years: Florida Commerce Park
Park is Ready, Redundant & Sustainable and at Crossroads of Commerce; Park Anticipates Burgeoning Business Related to Expansion of Panama Canal
Miami, Fla. – Skyfarm Strategic Capital LLC (“SkyFarm”), a Miami-based diversified asset management company, today announced that it has received approval to develop a 100-acre industrial park in Indiantown in Martin County, South Florida. The development, Florida Commerce Park, represents one of the largest non-residential land developments in recent South Florida history, and with up to 1.3 million buildable square feet is by far the largest industrial development ever undertaken in Martin County. Florida Commerce Park’s approval comes at an opportune time for trade and industry in South Florida as the Panama Canal expansion, nearing completion, will double the canal’s capacity and have significant trade implications for South Florida. Florida Commerce Park is primed to capitalize on that trade proliferation. The park is situated at a crossroads of commerce — along DOTs critical intermodal roadway system and CSX’s main rail — offering easy access to Florida’s east and west coasts, and the park is only 1.5 hours from PortMiami and even closer to Fort Lauderdale’s Port Everglades. Florida Commerce Park is also “shovel-ready” meaning that businesses can obtain permit-ready parcels —1.4-100 acres in size — saving up to 12 months of permit-processing time. Project development of the park will begin within two months.
“Florida Commerce Park is situated at a crossroads of commerce in South Florida. The park is in an ideal location for trade to and from Latin and South America, Asia, and the Caribbean including trade transiting the Panama Canal,” said Jeremy Shapiro, Director of Corporate Real Estate Development for Skyfarm Strategic Capital. “The park is in a superior logistical location and features exceptional broadband capacity and uninterrupted clean energy sources. Florida Commerce Park is ready, redundant and sustainable.”
Florida Commerce Park, www.floridacommercepark.com, is located in Martin County inland off State Road 710 — one of the state’s main emergency routes — by SW Railroad Avenue. The western border of the 100-acre park runs parallel to the CSX main rail line, and adjacent to rail lines is SR 710. Immediate proximity to these strategic intermodal arteries provides Florida Commerce Park with significant logistical advantages. Furthermore, the park is at high elevation to sea level, which together with its inland location, provides enhanced safety compared to coastal locations prone to tropical storms. The park is situated in a strong path of regional growth and moreover — critical to development in Florida — the park’s comprehensive plan takes on the master water-management system, which translates into more buildable square feet per individual site parcel and, in turn, lower land costs. Skyfarm received final approvals for the industrial park from Martin County.
Amenities bounding the park include an adjacent hotel and restaurants, and retail and medical facilities. Indiantown also boasts a robust and diverse labor pool that businesses in Florida Commerce Park are expected to tap, boosting job growth in the region.
Indiantown has been honored nationally as a Smart Rural Community with high-tech readiness and a secure, redundant, ITS Telecom underground fiber network. Florida Commerce Park benefits from that redundancy. The park is also adjacent to FPL’s power plant, which includes the largest solar-thermal power plant in the eastern U.S. FPL’s energy sources, together with natural gas providers and other sustainable resources, will provide Florida Commerce Park with uninterrupted and sustainable energy at a time when clean energy is of rising importance to businesses seeking social responsibility.
Added, Neil E. Merin, Chairman at NAI/Merin Hunter Codman, “Florida Commerce Park will set the new gold standard for industrial parks in South Florida with its superior logistics, redundancy and sustainability. This is one of the most important new commerce parks to come on the horizon in decades.” NAI/Merin Hunter Codman, one of the largest commercial real estate brokerage firms in South Florida, represents sales and leasing at Florida Commerce Park.
Richard Economou, Managing Director at NAI/Merin Hunter Codman, added that he expects to see strong interest in the park from data centers, distribution and energy-related companies, and manufacturing and warehouse facilities. Some of those industry sectors, said Economou, will benefit strongly from the Panama Canal’s expansion.
Florida Commerce Park will serve as an industrial gateway for commodities transiting the canal. More than 10.1 million long tons flowed through the canal in 2014 from Central and South America, Oceania and Asia, and the west coast of North America, to US southern Atlantic ports such as Miami and Port Everglades. Over 13,000 vessels use the canal annually, each with a maximum capacity of 5,000 TEUs (approx. 5,000 containers per ship), which will increase to 13,000 TEUs with the expansion. The canal, which takes 8-10 hours to transit, serves more than 144 maritime routes connecting some 1,700 ports worldwide.
Florida Commerce Park is also situated in a designated Enterprise Zone, offering powerful business incentives, and in a Historically Underutilized Business Zone (HUBZone), which provides advantages in winning federal contracts.
Read the press release on our website by clicking here.
About Skyfarm Strategic Capital
Skyfarm Strategic Capital LLC is a privately held, diversified asset management firm headquartered in Miami. The firm, founded in 2010, is focused on strategic investments in emerging and undervalued sectors of business and commerce. Skyfarm executives bring to bear a wide variety of management and entrepreneurial backgrounds working with both public and private companies. Their decades of successes have ranged from commercial real estate, community redevelopment and broadband infrastructure initiatives, to leadership roles in renewable energy, water management and sustainability advocacy, as well as expertise in developing emerging technologies and new media. Florida Commerce Park taps upon these varied talents to bring a world-class, industrial park to South Florida with a forward-thinking vision for the future.
About NAI/Merin Hunter Codman
NAI/Merin Hunter Codman, www.mhcreal.com, is one of South Florida’s leading commercial real estate services firm with over three decades of experience advising clients on strategic acquisitions and dispositions and providing landlord representation, tenant representation, property management and construction management services. The firm has expertise in all commercial property sectors including office, industrial, retail, multifamily, hotels and land. NAI/Merin Hunter Codman’s client base includes some of the nation’s most prestigious institutional and private investors and through the NAI global network, it can facilitate property transactions around the nation and the world, serving as a single point of contact for its clients’ counsel and execution. NAI/Merin Hunter Codman is headquartered in West Palm Beach with regional offices in Boca Raton, Palm Beach Gardens and Wellington.
West Palm Beach, Fla. – NAI/Merin Hunter Codman, Inc., one of South Florida’s leading commercial real estate services firm, today announced that Spencer Grossman, Director of Retail Services, has been named the firm’s 2014 Broker of the Year. Mr. Grossman closed a plethora of noteworthy deals, pointing to increasing momentum occurring in South Florida commercial real estate markets in general. Mr. Grossman co-brokered the sale of a prime, $13.5-million waterway parcel in Palm Beach Gardens (former site of Panama Hatties) that is expected to become a mixed-use condominium/retail complex with a possible hotel component. Grossman says the deal is indicative of rising land sales in South Florida as capital once again seeks footholds of growth in prime markets. Strong interest was also focused on adaptive reuse of commercial properties. Grossman negotiated the purchase of a Pompano warehouse that will be converted into a Boomers Volleyball Academy, as well as the sale of a former big-box furniture store in North Palm Beach, Carl’s, which will be converted into an outdoor/fisherman’s paradise for Bass Pro Outdoor World.
“Spencer Grossman continually applies creative solutions to commercial real estate, and those solutions are successfully transitioning properties from soft real estate cycles to emerging upward cycles,” said Jordan C. Paul, Chief Executive Officer of NAI/Merin Hunter Codman. “Spencer’s ability to understand both market dynamics and key financial drivers has resulted in maximized value for our clients.”
Click here to read the full press release.