Pompano Beach – November 22, 2019 – CBRE announced today it has arranged a 51,000-sq.-ft. industrial lease at Bridge Point Powerline Road, a state-of-the-art institutional showroom and distribution park in Pompano Beach, Florida. The lease was arranged on behalf of the landlord, Bridge Point Powerline, LLC, who was represented by CBRE’s Tony Hoover and Larry Dinner.
The tenant, Velocity Aerospace Group, a global leader in repair and exchange of aerospace systems and components, will occupy Building 2 at 1981 North Powerline Road starting Q2 2020.
“Velocity Aeronautical is consolidating two spaces, and all of their local operations will now take place under one roof,” said Tony Hoover, senior vice president at CBRE. “Throughout Broward County, we continue seeing existing tenants, like Velocity Aeronautical, relocating into newer and larger industrial warehouse product.”
The 521,560-sq.-ft. Bridge Point Powerline Road is in the heart of the Pompano Beach Industrial Submarket, midpoint between the Florida Turnpike and I-95, the shortest distance between the two interstate highways in Broward County.
According to CBRE’s Broward Q3 2019 MarketView Report, Pompano Beach finished with a 3.9% vacancy rate and overall average asking lease rates are at $8.22 per sq. ft.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
