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Published on: 7/5/2002
Last Visited: 3/8/2003
The company signed a 14 ½-year lease valued at more than $19 million, which includes operating expenses, said Richard F. Etner Jr., a Cushman & Wakefield real estate broker who worked on the transaction.
Quantum's sublease puts a dent in the vacancy rate in southwest Broward County's industrial market, which has seen significant construction in recent years.Cushman & Wakefield reported that the market had the highest vacancy rate in the county as of the end of December, when 14.8 percent of the 19.2 million square feet in the market sat empty.
"It takes a big block of space off the market, which helps absorption," said Etner, who completed the deal with partners Christopher J. Metzger and Sky Groden.