Cushman & Wakefield’s South Florida Industrial Team of Rick Etner Jr., Chris Metzger, Christopher Thomson, Matt McAllister, and Merritt Etner Represented EverWest in the Purchase of a ±248,770-Square-Foot Warehouse and Distribution Center at 20351 Sheridan Street in Pembroke Pines
PEMBROKE PINES, FL, JANUARY 10, 2022 — Cushman & Wakefield’s South Florida Industrial Team has negotiated the purchase of 20351 Sheridan Street, a ±248,770-Square-Foot warehouse and distribution center in Broward County.
The Cushman & Wakefield team of Rick Etner Jr., Chris Metzger, Christopher Thomson, Matt McAllister, and Merritt Etner represented the buyer, Denver-based EverWest Real Estate Investors LLC, which acquired the asset for $58.25 million ($234 per square foot). The seller, Sheridan Real Estate Investment B LLC, was self-represented in the transaction.
20351 Sheridan Street is a ±248,770-square-foot Class A warehouse and distribution center featuring 59 loading docks, a 180-foot truck court, heavy 1,600 Amp/480 Volt three-phase power, and a shell layout accommodating a wide variety of uses. The building was developed in 2020 on a ±13.7-acre site approximately four miles west of Exit 93 on Interstate 75.
“EverWest is fully committed to expanding our footprint in South Florida and this acquisition is a great continuation of those efforts,” said EverWest Director of Acquisitions Tyler Williams. “The Cushman & Wakefield team worked hand-in-hand with us through the holidays to get this one across the finish line by year-end, an almost unprecedented quick close from contract to close in under 20 days.”
“Investors are clamoring for Class A facilities like this in the South Florida market,” said Etner. “This elevated demand meant it was imperative that we act quickly to help secure the acquisition for EverWest.”
The seven-member South Florida Industrial team led by Metzger, Etner, and Thomson negotiated just over 17.5 million square feet of sale and lease transactions valued at more than $543 million in 2021. For more information, please visit www.southfloridaindustrialteam.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About EverWest Real Estate Investors LLC
EverWest Real Estate Investors is a real estate investment advisor providing investment management services throughout the U.S. including acquisitions, asset management, development and property management for our investors. With $3.8 billion in assets under management, EverWest clients invest through separately managed accounts and commingled funds. The firm is headquartered in Denver with regional investment offices in New York City, Charlotte, Los Angeles and San Francisco metro areas. EverWest is an affiliate of Sagard, a leading global alternative asset management platform within the Power Corporation of Canada ecosystem. For more information, visit www.everwest.com.
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