Stiles Realty Leases 178,791 SF Industrial Warehouse to Fanatics
Posted on 9/23/2013Stiles Realty director Norm Adams today announced that Fanatics Mounted Memories, the memorabilia and collectibles division of online retailer Fanatics, has leased 178,791 square feet of industrial space at Sawgrass International Corporate Park (SIPC) at 251 International Parkway in Sunrise, in a facility originally built by Stiles. This lease represents the largest in Sunrise and one of the largest in Broward County in 2013.
Norm Adams of Stiles Realty, represented Fanatics in the sublease transaction while Tom O'Loughlin of CBRE represented the Sublessor. This follows Fanatic's recent 15,000-square-foot headquarters lease at the Plaza at Las Olas in downtown Fort Lauderdale, where it relocated from Plantation.
"It was difficult to find both prime headquarters and large warehouse space in Broward that are located in close proximity to major highways and offered the right amenities for our company," said Ross Tannenbaum, Fanatics CEO. "Stiles understood our needs and advised us through the process. They really helped us to navigate a complicated market with limited options."
"We are very pleased to represent Fanatics in their expansion in Broward County with two very large leases," said Adams. "This is an exceptional location for their South Florida distribution facility, and will help Fanatics to achieve their aggressive growth goals."
Fanatics is one of the largest online retailers of officially licensed sports merchandise. According to the company, Fanatics powers the e-commerce sites of all major professional sports leagues, including the NFL, MLB, NBA, NHL, NASCAR, PGA; major media brands, including NBC Sports, CBS Sports, and FOX Sports; and hundreds of collegiate and professional team properties.
Adams noted that this was a particularly complicated transaction due to it being a sublease agreement with Perfumania, the original tenant. "This lease is a testament to the creative lease negotiations completed by all parties involved," commented Adams.
One of South Florida's largest office parks, SIPC features 612 acres of business space catering to everything from high-tech manufacturing and R&D to executive office suites and mid-rise Class A office projects. The park located at 1100 International Parkway was originally developed by Stiles in 1994 and is bound by I-595, I-75 and Sunrise Boulevard.