Apocalypse Manufacturing And SoFlo Customs Acquires Pompano Beach Manufacturing Facility for $10.7 Million

South Florida-based Apocalypse Manufacturing and South Florida Custom Jeeps (SoFlo Customs), known for their one-of-a-kind custom-made jeeps led by founder Joseph Ghattas, has closed on a $10.7 million acquisition of a new manufacturing facility to build and fabricate custom trucks. The 41,520-square-foot state-of-the-art facility was developed in late 2022 and is located at 2151 Hammondville Road in Pompano Beach, Florida. As a result of the off-market transaction, the new warehouse property will be used by the buyer to build and fabricate every Soflo Custom and Apocalypse 6x6 truck which will be sold off-site.

The purchase represents the expansion of the companies’ manufacturing facility from a 18,000-square-foot location in Fort Lauderdale to more than double the space at the new site in Pompano Beach. In addition to the physical expansion, the auto company plans to add approximately 35 skilled workers.

“The Hammondville Road location is perfect, as it is a brand-new facility with 16 grade-level doors and situated within a half-mile from Florida’s Turnpike and less than one mile from Interstate 95 offering convenient tri-county access,” said Viscount. “A spec building developed as an investment and marketed to rent the property’s design with a fairly narrow truck court limited the pool of potential prospects looking for industrial space but was ideal for my client, especially in a market where industrial space is scarce.”

South Florida Custom Jeeps was represented by Avison Young Principal Tom Viscount in the transaction. CBRE’s Tom O’Loughlin and Larry Genet represented the seller 1501 N Powerline LLC in the transaction.

“To move forward with the transaction, we had to work with the City of Pompano Beach to get the use of the facility approved,” explained Viscount. “We met with the city commissioners, zoning committee, and the mayor, all of whom were great to work with and unanimously agreed to the requested light manufacturing use of the building.”

SoFlo Customs has upgraded, customized and built from scratch over 3,000 Jeeps which they are famous for building with lift kits, big wheels, eye-grabbing rims and custom tailor-made leather interiors. The vehicles are sold throughout the country and internationally, with many designs exceeding hundreds of thousands of dollars. The high demand for the Apocalypse truck, which have waiting lists that consist of celebrities, athletes, and other high-profile buyers, led to the company’s search for a newer, larger facility that could accommodate the workflow. The trucks have been featured on Jay Leno’s Garage and in MotorTrend. SoFlo Customs has four stores and approximately 40 employees.

Images via South Florida Custom Jeeps

Miramar Park of Commerce Sells For $18 Million At A Record Price Per Square Foot For Broward County

The Miramar Park of Commerce has sold for $18 million. The 56,072-square-foot industrial/flex building is located at 10315 USA Today Way in Miramar, Florida. At $321.02 per square foot, the transaction represents the highest price per square foot secured for an industrial/flex property in Broward County.

On behalf of the seller, Zeta Associates, LLC, Avison Young’s Industrial leasing team and Florida Capital Markets Group teamed up to complete the record-setting disposition to CRG Acquisition, LLC. The effort was led by Principals Tom Viscount, David Duckworth, Michael T. Fay, John C. Crotty, Wayne Schuchts, and Senior Associate Bobby Benton.

“The sale demonstrates both the resilience and attractiveness of the South Florida industrial market,” said Viscount. “Specifically, the significant price per square foot is indicative of the high demand for class A industrial and flex space, as investors continue to see South Florida as a key growth region. Due to the extraordinary demand and limited supply, less than 10 flex buildings over 50,000 square feet sold in the past year.”

The asset’s buyer is an investor who was attracted to Miramar Park of Commerce’s great location, well-maintained properties, and the prestige of the park. They plan to renovate the building to create a high-end educational campus-like setting to lease it to one of their national clients that operates a medical school.

“The buyer recognized the uniqueness and value of the building’s overall footprint and quality infrastructure sitting on seven acres, which cannot be replicated in today’s market,” added Viscount. “These factors certainly contributed to the notable sales price.”

Equidistant from Fort Lauderdale and Miami, Miramar Park of Commerce is a light industrial park campus in Southwest Broward County fronting the Florida Turnpike just one mile east of the Red Road Interchange. With over 5 million square feet of office/service, laboratory, pharmacy, light manufacturing, and distribution space, the world-class park is home to 10,000 employees from more than 170 national and international companies.

Avison Young Completes 133,140 SF Of Industrial Leases In Broward County

Avison Young has announced it negotiated five industrial lease transactions totaling 133,140 SF in Broward County, Florida. The transactions were overseen by Avison Young Principals Tom Viscount and Wayne Schuchts. Sonny’s Enterprises, an international manufacturer and marketer of conveyorized carwash equipment, signed a 41,520 SF long-term lease expansion to fully occupy Westpoint Distribution Center at 5607 Hiatus Road in Tamarac. Colliers’ Ryan Goggins represented the landlord, Nuveen. Sonny’s Enterprises also signed a new 37,500 SF long-term lease at Tamarac Commerce Center at 6501 Nob Hill Road in Tamarac. Link Industrial Properties’ Eric Penaranda represented the landlord, GLP.

Stimwave, an online distributor and supplier of generic and brand name medicine, signed a new 26,000-square-foot lease at Park Central Business Park at 1310 Park Central Blvd. S in Pompano Beach. Duke Realty’s David Loudenslager represented the landlord. Lightfire Group, an e-cigarette and vapor distribution company, signed a 16,120 SF lease renewal at Westpoint Industrial Center II at 10601 State St. in Tamarac. Nothing Butt Cigarettes, a tobacco wholesaler and distributor, signed a 12,000 SF lease renewal at Westpoint Industrial Center II.

“West Broward and Pompano Beach continue to attract and retain industrial space users that value convenient access to locations throughout South Florida’s tri-county area via major thoroughfares,” said Tom Viscount of Avison Young. “Our clients had a differing range of space requirements in these tightening, in-demand submarkets, and it was a pleasure working with the landlords and their representation to meet those needs.”

The transactions reflect the continued robust demand for industrial space in Broward County. According to Avison Young’s year-end 2019 Broward County industrial report, West Broward, where Tamarac is located, posted the lowest vacancy rate in the county at 2.1%. Nearly 2.7 million SF of new industrial space was completed in the county, of which 1.1 million SF alone was delivered in Pompano Beach. The submarket still saw 456,773 SF of net absorption, indicating robust demand.