RWNK Reps Tenant In 23,000 SF Expansion, Lease Extension

Written by on 08.06.13 in Done Deals, Industrial, Investment Trends - No comments

Michael Scarpino, CCIM, Frank Morrison and Jennifer Scarpino of NAI Rauch Weaver Norfleet Kurtz & Co. represented the tenant, Woodfield Distribution, LLC in the expansion lease of 22,648 square feet at Boca Distribution Center 1 for a total combined SF of 70,744, located at 951 Clint Moore Road in Boca Raton.

Woodfield Distribution, LLC also extended their original lease by 50 months to coincide with the ten year term on the expansion space.

Christopher Thomson of Cushman & Wakefield represented the landlord, Prologis.

Woodfield Distribution, LLC is planning to use the facility to manufacture and distribute pharmaceuticals from this location. It is a consolidation of the company’s distribution from several other locations throughout the country. The company has been manufacturing with third party vendors for some time, and will continue to do so, but this facility will be used to manufacture high demand pharmaceuticals in order to better control the timing on the manufacturing and distribution process. Woodfield will be renovating the entire expansion space.

The 50-month lease extension and 22,648 SF expansion is valued at over $2.8 million.

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