N E W S & B L O G
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Press Release: Cushman & Wakefield Brings Turnpike Business Park to 100% Occupancy with New Lease by Deutz Corporation
The Class A Industrial Park, Owned by Cabot Properties, is Prominently Situated off Florida’s Turnpike in West Palm Beach
WEST PALM BEACH, FL, – Cushman & Wakefield, as the exclusive leasing agent, has arranged a 15,010-square-foot lease with Deutz Corporation, a supplier of diesel and gas engines and large machinery parts, at Turnpike Business Park. The 325,510-square-foot, Class A, suburban industrial park is now 100% leased.
The Cushman & Wakefield Industrial Team of Associate Alex VanDresser, Executive Director Christopher Thomson, Executive Director Chris Metzger, Executive Director Rick Etner and Director Matthew G. McAllister negotiated the lease on behalf of the landlord, Cabot Properties. The Boston-based private equity real estate investment firm is a leading investor, developer and operator of industrial properties throughout North America. Devin Schmidt of Cornerstone Realty represented the tenant.
Deutz Corporation, which is based in Atlanta and serves all of North America, is new to the South Florida market and will use the space as a distribution center. The company joins such notable tenants at Turnpike Business Park as Terminix, PODS and LaserSmith.
Turnpike Business Park is conveniently located just north of Southern Boulevard and Florida’s Turnpike, with excellent frontage along the Turnpike, a major north-south roadway that connects to Interstate 95 and Interstate 595.
The Deutz Corporation space is located in Building 4 at 475 N. Cleary Road. The 61,946-square-foot building was completed in 2017 and features 24-foot clear height ceilings, six dock high doors, 52-foot column spacing and an ESFR sprinkler system.
“With its unbeatable location and frontage along Florida’s Turnpike, Turnpike Business Park is one of Palm Beach County’s premier suburban industrial parks,” said VanDresser. “Deutz saw the need for a corporate location here due to its increasing activity in the market, and this property met all of its needs. We are pleased to have brought this property to full occupancy on behalf of our client, Cabot Properties, with such a quality tenant as Deutz.”
The eight-member South Florida Industrial team, led by Metzger, Etner and Thomson, negotiated just over 12 million square feet of sale and lease transactions valued at more than $252 million in 2019. For more information, please visit www.southfloridaindustrialteam.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.