The tenant is the the global telecommunications subsidiary of Madrid, Spain-based Telefonica S.A.
Industry sources tell GlobeSt.com Telefonica DataCorp agreed to a 15-year lease at about $13 per sf for a total value of about $34 million.
In comparison, Cushman & Wakefield Inc. reported in its most recent market survey that rents for high-tech industrial space in the airport/west submarket averaged about $7.63 per sf for the three months ended June 30.
Brokerage sources tell GlobeSt.com on condition of anonymity that Telefonica signed the long-term lease at higher-than-market rents because of the technologically advanced infrastructure that LightSpeed Infrastructure has invested into the 100-acre industrial park at State Road 836 and Florida's Turnpike.
Lightspeed is an affiliate of Hollywood, FL-based Swerdlow Real Estate Group Inc. Swerdlow manages and operates the industrial-telecom park in partnership with an investment group led by Dallas-based Olympus Real Estate Corp.
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