With only 250 acres available for industrial development across Broward County, the South Florida sector is heating up.
New York-based Clarion Partners grabbed its piece of the tightening market when it paid $77.25 million on behalf of a commingled fund to add a four-building Pompano Beach complex to its portfolio. The deal closed May 25 and was valued at about $124 per square foot, notably higher than deals that previously closed within the $52 to $94 per square foot range in the first quarter.
