PEMBROKE PARK, FL-Seneca North, a 31-acre development within the one-million-sf Seneca Industrial Park, has a new tenant in Calhoun, GA-based carpet manufacturer Mohawk Industries Inc. A Mohawk affiliate has signed a lease for 260,000 sf in a building that owner KTR Capital Partners of New York City plans to complete by third quarter 2007.
Broward County brokers familiar with the Pembroke Park submarket tell GlobeSt.com the lease was probably for 10 years at an estimated rent of $7.69 per sf and an aggregate estimated value of $20 million.
The build-to-suit will be a cross-docked distribution facility designed to Mohawk's specifications, according to Stephen J. Butte, KTR Capital Partners senior vice president. "When combined with the two speculative buildings currently under construction, Seneca North will offer close to 540,000 sf of class A product in a highly sought after Broward County location," Butte says in a prepared statement.
Bristol Industrial I, LLC of San Francisco owns Seneca Industrial Park.
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