CENTERPOINT ANNOUNCES 10-YEAR LEASE TO INTERNATIONAL WAREHOUSE SERVICES AT PORT EVERGLADES INTERNATIONAL LOGISTICS CENTER
Posted By Staff Writers On July 8, 2020 @ 11:00 am
OAK BROOK, IL – CenterPoint Properties is proud to announce a 10-year lease agreement with International Warehouse Services (IWS) at 3423 McIntosh Road, Hollywood, FL, at its Port Everglades International Logistics Center (PEILC). The long-term lease of the 145,007 SF build-to-suit comes just a year after CenterPoint began construction on its first ground-up development in South Florida.
The strategic location of the PEILC made it ideal for IWS, as the 16.7-acre site is adjacent to Port Everglades, one of the most active container seaports in the U.S. The new IWS facility has direct access to the 43-acre intermodal container transfer facility, operated by Florida East Coast Railway, and it’s less than a mile from the Fort Lauderdale-Hollywood International Airport. Additionally, the PEILC is located inside Foreign Trade Zone (FTZ) No. 25 at Port Everglades, allowing IWS to continue to realize improved cash flow and lower tariffs.
“I’m proud of the CenterPoint Development Team for not only staying on track the past seven months, but also for continuing to give our tenants the state-of-the-art logistics facilities they want and need,” said Brian Hollings, CenterPoint Vice President of Development.
IWS is a long-time tenant of the Port Everglades FTZ and its largest. IWS’ warehouse needs have dramatically grown in the last five years. One of the greatest benefits of the new PEILC is the 32-foot ceilings, which will allow IWS to expand vertically. The Port’s current FTZ facility is limited by 18-foot ceilings in outdated warehouses.
“The new International Logistics Center is the linchpin for our capital expansion in containerized cargo,” said Port Everglades Chief Executive and Port Director Jonathan Daniels. “CenterPoint’s involvement has moved this project forward at a rapid pace, which will afford more dockside advantages for our marine terminal operators.”
IWS is moving into one of two buildings at the PEILC. The 151,000 SF speculative building next door at 3413 McIntosh Road is available for lease and will be ready for immediate occupancy in August of this year. The development project coincides with a massive five-year, $1.6 billion infrastructure overhaul at the Port, including deepening and widening its channels, expanding cargo berths and installing new Super Post-Panamax cranes, among other upgrades.
“CenterPoint is proud of the progress we’ve made in the Port Everglades International Logistics Center in a relatively short time. The project is consistent with our strategic goal of investing in properties and developing facilities in close proximity to ports while also providing tenants with easy access to other regional transportation channels,” said Ronel Borner, CenterPoint Senior Vice President of Development.
International Warehouse Services is family owned and operated and has called Port Everglades “home” for more than 30 years. It offers customers throughout the Caribbean, Central and South America a range of inbound and outbound logistics services from warehousing to freight forwarding, trucking, brokerage and more.
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CenterPoint is an industrial real estate company made up of dedicated thinkers, innovators and leaders with the creativity and know-how to tackle the industry’s toughest challenges. And it’s those kinds of problems—the delicate, the complex, the seemingly-impossible—that we relish most. Because with an agile team, substantial access to capital and industry-leading expertise, those are exactly the kinds of problems we’re built to solve. For more information on CenterPoint Properties, visit centerpoint.com, follow @CenterPointProp on Twitter or engage with us on LinkedIn.