FRP Development Corp, a leading real estate development company, announced today the acquisition of a 24-acre site in Southwest Ranches, Florida. The company plans to develop Logistics Center at Southwest Ranches, a new Class A logistics development capable of accommodating over 300,000 square feet, designed to meet continued demand for modern industrial space in South Florida.
Located at the intersection of SW 202nd Avenue and Sheridan Street, the logistics project is expected to break ground later this year. Upon completion, the development will offer institutional-quality warehouse space featuring 36-foot clear heights, dock-high loading, generous trailer parking, expansive truck courts and flexible configurations designed to serve logistics, manufacturing and regional distribution users. The project is estimated to reach completion in 2028.
FRP acquired the site off-market. The transaction marks the company’s latest investment in South Florida, where it continues to expand its portfolio of strategically located infill logistics developments amid strong tenant demand and a shrinking supply of developable industrial land. The site required a highly complex entitlement process spanning more than two and a half years to secure the necessary development approvals.
“South Florida remains one of the strongest industrial markets in the country, but opportunities to develop new Class A product in core locations have become increasingly scarce,” said Mark Levy, Chief Investment Officer at FRP Development Corp. “The acquisition of this site reflects our long-term strategy of investing in well-located infill markets where barriers to entry are high, and tenant demand continues to outpace supply. Southwest Ranches offers regional connectivity and limited competitive inventory, making it an ideal location for the next generation of logistics users.”…