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Coca-Cola Beverages Renews Lease at Seneca Industrial Park in Pembroke Par

Colliers Team Kingsley-Rutchik represented Coca-Cola Beverages in the transaction

PEMBROKE PARK, FL | October 12, 2021 – Coca-Cola Beverages signed a lease renewal for their 93,700 square feet warehouse and distribution center at Seneca Industrial Park, located at 2500 SW 32nd Avenue in Pembroke Park. Jonathan Kingsley, Executive Managing Director for Colliers Office and Industrial Services, represented Coca Cola Beverages in the 64-month term renewal.

“This renewal signifies the excellent long-term relationship between Coca Cola and Nuveen,” said Kingsley. According to the most recent Colliers market report, Broward County’s industrial market ended the third quarter with over 1.5 million square feet of net absorption and a development pipeline of 1.3 million square feet. “We’re seeing more tenants and landlords recognizing the value of their long-term relationships in a very competitive industrial market environment.” said Kingsley.

The renewal is valued at nearly $4 million and was executed in July this year. Coca Cola has been a long-term tenant at the Seneca Industrial Park, an 885,000-square-foot Class A distribution and warehouse, since 2005, when Kingsley first introduced Coca-Cola to the park. Transwestern Senior Vice President Thomas Kresse represented the landlord, Nuveen, in the transaction.

Robust leasing activity and compressing vacancy rates position Broward County for a record breaking year for net absorption. Rent growth has been intensified by the elevated demand for quality industrial supply, and a 1.3 million square foot new development pipeline. This renewal is reflective of the heightened demand for Class A industrial product and the desire to lock in commitments to quality space.

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Jonathan Kingsley

Executive Managing Director -Office Services

Fort Lauderdale

Jonathan Kingsley is a 30-year veteran in the Commercial Real Estate community with a core focus on office and industrial landlord representation and related capital markets activities along with office and industrial tenant representation in South Florida and around the U.S. 

Jonathan Kingsley leads Colliers’ dominant South Florida Brokerage team – passionate, driven commercial real estate (CRE) advisors offering their expertise in both agency and tenant representation services for office and industrial clients, offering unique perspectives, particularly in complex lease and capital markets transactions. Team Kingsley-Rutchik is data driven, strategic and focused on financial analytics to ensure our clients are equipped to make the best real estate decisions for their stakeholders.

Jonathan joined Colliers in 2015 after four years as Senior Vice President of Brokerage at Jones Lang LaSalle and an 8-year career as Managing Director and Executive Vice President of Grubb & Ellis Company

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