Steven Mariano - Broward Alliance

Town Center for Plantation and central Broward.
Two new redevelopment projects will provide
luxury apartment and condominium units
within walking distance of Class A office space,
retail shopping and services, dining options and
entertainment. Midtown 24 and Veranda, both
recently completed, allow for upscale residential
living and retail shopping. Redevelopment plans
also call for a vibrant, mixed use “Main Street”
destination at I-595 and University Drive.
Pompano Beach
With its multimodal transit links, the city has
evolved into the in the industrial/warehouse/
distribution center of Broward County with
an inventory of more than 30 million square
feet of space. It is also home to some of the
most affordable housing in South Florida. The
city has targeted two primary Community
Redevelopment Areas (CRAs): the main
public beach area on the east and the Atlantic
Boulevard corridor on the west. With 3,000+
acres, the western CRA is the largest in the state
and encompasses industrial, commercial and
residential areas.
Sunrise
Sunrise is known for its business, residential,
retail, hospitality and entertainment offerings,
including Broward’s largest office park, Sawgrass
International Corporate Park. Major new
projects approved for development include
Westerra (1.6 million square feet of office,
400,000 square feet of retail, and 1,500 residential
units), Metropica (600,000 square feet of office)
and Flagler Plaza (850,000 square feet of office).
Tamarac
The city has put in place a 133-acre mixed-use
district to allow for future development and
redevelopment opportunities, in an effort to
provide a pedestrian friendly destination for
residents, and to encourage a live/work/shop
destination.
West Park
The city is expecting major changes over the
next few years with the development of a quality,
mixed-use district on S.R. 7/U.S. 441 Plans
include 575,000 square feet of office/flex space,
500,000 square feet of commercial space, 1,000
high-rise units, 450 garden apartments, 50
townhouses and a 200-room hotel.
Wilton Manors
A Main Street district is being developed
as a traditional town center with a business
area and pedestrian friendly environment for
affordable living, shopping, dining, arts, culture,
entertainment and special events.
Duke Realty Pompano Commerce Center
Office Market
Industrial Market
Market
Rentable
Area
Rentable
Building
Area
Vacancy
Rate %
Vacancy
Rate %
YTD Net
Absorption
SF
Second Quarter 2010 CB Richard Ellis, Inc.
YTD Net
Absorption
SF
Under
Construction
SF
Commercial 2,150,872 19.6% 29,984 0
Cypress Creek 4,048,835 18.2% (27,342) 0
Deerfield Beach 886,601 25.5% 4,951 0
Downtown (CBD) 5,201,562 17.0% (83,275) 0
Ft. Lauderdale 1,929,602 16.2% 9,202 0
Hollywood 2,196,788 17.0% (47,801) 0
Northwest Broward 1,274,886 29.2% (38,455) 0
Plantation 3,000,551 14.1% (90,800) 137,349
Pompano Beach 901,974 18.6% (75,911) 0
Sawgrass 2,369,693 21.2% 38,844 0
Southwest Broward 2,539,167 15.5% 28,923 0
TOTAL 26,500,531 18.2% (251,680) 137,349
Under
Construction
SF
Central Broward 20,301,075 9.3% 63,514 0
Coral Springs 7,708,838 8.8% 89,718 0
Northeast Broward 12,741,601 12.3% (58,902) 0
Pompano Beach 30,409,511 11.8% (75,536) 0
Southeast Broward 32,319,513 6.8% 44,674 0
Southwest Broward 17,717,246 9.0% (91,615) 0
West Sunrise 10,925,092 8.0% (83,739) 0
TOTAL 132,218,544 9.4% (111,886) 0
CBRE statistics include industrial/flex properties, multi/single tenant, owner-user, 10,000 SF and greater
Real Estate Opportunities
Greater Fort Lauderdale Alliance economic sourcebook 39