Tag Archive for: tpa group

Atlanta-based TPA Group broke ground for a 220,000-square-foot warehouse at an industrial park in Palm Beach County after landing an $11.5 million loan to finance construction.

Texas Capital Bank provided the construction loan to an affiliate of TPA Group, NHT Palm Beach LLC.

Jacksonville-based general contractor Conlan Co. recently notified Palm Beach County that it started building the warehouse.

The 18-acre site of the warehouse project is within the 1,000-acre Palm Beach Park of Commerce, located west of Palm Beach Gardens.

It is a speculative development, according to Christopher Thomson of brokerage firmĀ Cushman & Wakefield, the leasing agent for the warehouse.

Thomson told the South Florida Business Journal thatĀ TPA Group plans to rent the warehouse for $6.95 per square foot, and construction is expected to conclude by June 2019. Existing tenants at the Palm Beach Park of Commerce include CSX, McLane and Walgreens.

Kelly Slater Wave Co. plans to build a wave lake at the park calledĀ Surf Ranch.

 

Source: The Real Deal

he Great Recession choked office construction for nearly a decade, but developers now see a market starved for space.

Edison Pembroke Pines rendering

Atlanta-based TPA Group says itā€™s planning a 330,000-square-foot office park along Interstate 75 at Southwest 145th Avenue near The Shoppes at Pembroke Gardens retail center. The Edison Pembroke Pines will consist of two, three-story buildings. A central clubhouse will have a gym, meeting space and a cafĆ©.

ā€œThe project still needs final city approval, but the 165,000-square-foot first phase is expected to be ready by the first quarter of 2019,ā€ Ā said Greg Martin, principal at Avison Young, the firm handling marketing and leasing. ā€œThe overall market in southwest Broward is strong. There isnā€™t a whole lot of quality space thatā€™s available for tenants out there.ā€

Martin and Avison Young Vice President Justin Cope say they expect the project to attract technology and health care companies, among other users.

TPA has two other similar office parks under construction in Lake Mary, near Orlando, and Alpharetta, Ga.

Adjacent to the Edison project, Duke Realty recently completed a 143,000-square-foot office building. Duke was planning to build more offices in the area but ultimately sold the land to TPA.

The Stiles real estate firm is leasing and marketing a 25-story, 395,836-square-foot tower at 201 E. Las Olas Blvd. in downtown Fort Lauderdale. Itā€™s expected to open in the fall of 2020.

In Palm Beach County, the Related Cos. of New York has proposed a 25-story tower along South Flagler Drive.

ā€œWith the lack of development over the last 10 years, the market is due to see some new product,ā€ Cope said. ā€œThere are strong fundamentals. Rents are increasing and vacancies are coming down.ā€

 

Source: SunSentinel