Greater Fort Lauderdale / Broward County 2018 An in-depth review of the key issues facing Broward’s economy featuring the exclusive insights of prominent industry leaders
$159.00 ISBN 978-0-9988966-1-8
59999
9 780998 896618
Contents:
44 Market voices: Caroline Fleischer, Co-Managing Principal, Cresa South Florida; Ryan Nee, Vice President & Regional Manager, Marcus & Millichap Real Estate Investment Services of Florida; Michael Comras, President & CEO, The Comras Company of Florida
49 Construction, Infrastructure & Utilities:
7 Economy:
10 Progress on the sea: With yearround sunshine and a favorable business climate, Broward County is attractive for companies and people. Even recent outside influence, both political and natural, has not managed to destabilize the area
of National Sales, Hotwire Communications
29 Perspective: Peggy Nordeen, CEO,
31 Real Estate:
12 Interview: Beam Furr, Vice Mayor, Broward County
population, investor capital has
14 Interview: Bertha Henry, CEO, Broward County
Fort Lauderdale’s real estate market
35: Interview: Dennis Mele, Shareholder, Land Use & Zoning
22 Interview: Bob Swindell, President & CEO, Greater Fort Lauderdale Alliance
24 Technical knockout: “Work in the Cloud, Live in the Sun,” the Greater Fort Lauderdale Alliance advertises, as local companies, government institutions and schools help to make the IT sector an exciting prospect
26 Interview: David Henshall, Director, President & CEO, Citrix Systems
34 Right time, right place: Bolstered
found the right place in Greater
20 Interview: James Donnelly, Chairman, Broward Workshop
52 Viewpoint: Charles “Chip” Reid, CEO, Current Builders
54 Perspective: Gregory Stuart, Executive Director, Broward Metropolitan Planning Organization
55 Interview: Bob Moss, Chairman & CEO, Moss & Associates
56 Perspective: Henry Sniezek, Director, Broward County Department of Environmental Protection & Growth Management
58 Perspective: Thomas Miller, CEO, Miller Construction Company
59 Interview: Thomas Hutka, Director, Broward County Department of Public Works
60 Perspective: Michael Kaufman, President & CEO, Kaufman Lynn Construction
by a thriving economy and growing
25 Perspective: Rehan Khan, President & CEO, Acordis International
51 Interview: Scott MacLaren, President, Stiles
32 Real Estate in numbers
11 Interview: Rick Scott, Governor, State of Florida
Starmark International
50 Quality controlled: With demand for property increasing, the construction industry’s main challenges are shortages of workers and available land. The area’s utilities companies are effective and well run, adding to a robust infrastructure
Executive Vice President
8 Economy in numbers
27 Perspective: Daniel O’Connell,
Chair, GreenspoonMarder 36 Interview: Joseph Kavana, Chairman & CEO, K Group Holdings, Inc. 37 Perspective: Jim Ellis, President, Ellis Diversified; Chair, Riverwalk Fort Lauderdale
63 Transportation & Aviation:
38 Interview: Greg West, Chief Development Officer, ZOM Living;
64 Transportation & Aviation in numbers
65 Upward mobility: With ample airport connections, a new tricounty rail system and a developed road network, Broward County’s transport sector is well positioned to offer support and convenience to the area’s residents
Chair, Urban Land Institute Southeast Florida & Caribbean Region
40 Interview: Ryan Shear, President, Property Markets Group
42 Interview: Michael Weymouth, President, The Las Olas Company
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Contents: 66: Interview: Mark Gale, CEO, Fort-Lauderdale-Hollywood International Airport 67: Interview: Robert Fornaro, President & CEO, Spirit Airlines 68: Perspective: Jason Annunziata, Director, Fort LauderdaleHollywood International Airport, jetBlue 70: Interview: Jack Stephens, Executive Director, South Florida Regional Transportation Authority
74 Perspective: Diana Alarcon, Transportation & Mobility Director, City of Fort Lauderdale
77 Marine & Logistics:
78 Marine & Logistics in numbers
80 Sea of opportunity: Broward’s advantageous position allows the marine and logistics sector to be well served and an essential part of the local economy. Port Everglades is a crucial economic driver for the county, region and state
81 Interview: Steven Cernak, Chief Executive & Port Director, Port Everglades
82 Interview: Patrick Collins, General Manager, Crowley
83 Perspective: Charlie McCurdy, President & CEO, Informa Global Exhibitions 85 Perspective: Jim Hertwig, President & CEO, Florida East Coast Railway
87 Pembroke Pines:
88 Progress in the Pines: With an emphasis on community, Pembroke Pines is building on its strengths as a family-friendly environment with excellent education and medical amenities, while the new Pembroke Pines City Center is adding new dimensions to the area’s offerings
89: Interview: Frank Ortis, Mayor, City of Pembroke Pines
90 Perspective: Mark Doyle, CEO, Memorial Pembroke
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91 Viewpoint: Charles Dodge, City Manager, City of Pembroke Pines
92 Viewpoint: Leah Carpenter, CEO, Memorial Hospital West
94 Interview: Ron Bergeron, Founder & CEO, Bergeron Land Development
95 Interview: David Martin, President, Terra Group
97 Banking & Finance: 98 Banking & Finance in numbers 100 Bank balance: A mixture of national institutions and community banks means Broward County is well served when it comes to financial institutions. Potential new legislation could have a positive impact on institutions in the banking sector as it experiences continuing consolidation 101 Interview: Tony Coley, South Florida Regional President, BB&T 103 Interview: Cressman Bronson, Florida Regional President, PNC Bank 104 Perspective: David Druey, Division President, Centennial Bank 105 Market voices: Shannon Alfonso, Florida Region President & CEO, Marsh & McLennan Agency; Zeb Holt, South Florida Area President, Arthur J. Gallagher & Co.; Rachel Sapoznik, President & CEO, Sapoznik Insurance
107 Healthcare: 108 Environmental health: With an aged demographic and environmental challenges, the area’s medical facilities have their work cut out for them. A number of top-class institutions are ensuring that the area’s residents are well served
115 Market voices: Penny Shaffer, South Florida Market President, Florida Blue; James Repp, President & Chief Operating Officer, AvMed; John Benz, President & CEO, Community Care Plan 116 Perspective: Joyita Garg, Vice President of Florida PACE Centers, Miami Jewish Health 117 Interview: Patrick Taylor, President & CEO, Holy Cross Hospital 118 Perspective: Nancy Humbert, Executive Vice President of Ambulatory Services and External Affiliations, Nicklaus Children’s Hospital
119 Education:
109 Interview: Dr. Wael Barsoum, President, Cleveland Clinic Florida
120 Level best: All levels of education are catered to in Broward County, and the sector is a major employer. International students and locals alike enjoy a high quality of instruction
114 Interview: Aurelio Fernandez, III, President & CEO, Memorial Healthcare System
121 Interview: George Hanbury, President & CEO, Nova Southeastern University
reater Fort Lauderdale / G Broward County 2018 130 Perspective: Roger Moore, CEO, Nautical Ventures Group 131 Interview: Paul Puma, Southern Regional President, Kimco Realty 132 Perspective: Robert Shapiro, President, Master Development 134 Perspective: Dev Motwani, President & CEO, Merrimac Ventures
137 Tourism, Culture & Sports: 138 Everything under the sun: Greater Fort Lauderdale has plenty to offer tourists, with the secondlargest cruise port in the world and high-quality attractions. The area is making the most of trends such as Airbnb and luxury travel as the industry moves with the times 139 Interview: Stacey Ritter, President, Greater Fort Lauderdale Convention & Visitors Bureau
122 Interview: Arthur Keiser, Chancellor & CEO, Keiser University
140 Interview: Lisa Lutoff-Perlo, President & CEO, Celebrity Cruises
124 Interview: David Armstrong, President, Broward College
141 Perspective: Edie Rodriguez, CEO & President, Crystal Cruises
127 Dania Beach: 128 Life’s a beach: Once known as the antique capital of the South, Dania Beach now has much more to offer. It is a logistics base, has a growing IT sector and is a family-friendly tourist destination 129 Interview: Tamara James, Mayor, City of Dania Beach
142 Interview: Matthew Caldwell, President & CEO, Florida Panthers 144 Interview: Kelley Shanley, President & CEO, Broward Center for the Performing Arts
ISBN 978-0-9988966-1-8 President: Abby Melone Chief Financial Officer: Albert E. Lindenberg Managing Editor: Alex Mazonowicz Executive Director: Erica Knowles Editorial Manager: Jared Kimball Art Director: Nuno Caldeira Editorial Assistant, Contributing Writer: Valerie Silva Production Assistant: Michael Gargula Accountant: Andrew Mellet Intern: Mackenna Smith Invest: Greater Fort Lauderdale / Broward County is published once a year by Capital Analytics Associates, LLC. For all editorial and advertising questions, please e-mail: contact@capitalaa.com To order a copy of Invest: Greater Fort Lauderdale / Broward County 2018, please e-mail: contact@capitalaa.com All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, without the express written consent of the publisher, Capital Analytics Associates, LLC. Whilst every effort has been made to ensure the accuracy of the information contained in this book, the authors and publisher accept no responsibility for any errors it may contain, or for any loss, financial or otherwise, sustained by any person using this publication. Capital Analytics Associates, LLC accepts no responsibility for the return of unsolicited manuscripts and/or photographs, and assumes no liability for products and services advertised herein. Capital Analytics Associates, LLC reserves the right to edit, rewrite, or refuse material.
147 Interview: Bonnie Clearwater, Director & Chief Curator, Nova Southeastern
Photo Credits: Contents:
pg 42 – Comras Company of Florida
pg 4 – City of Pembroke Pines
pg 46 – Metropica
Economy:
Construction:
pg 15 – FEC Railway
pg 49 – Small: Hotwire Communications
pg 18 – Brightline
pg 50 – Miller Construction Company
pg 21 – B roward County Department of Environmental Protection and Growth Management pg 24, 28 – Citrix Systems pg 27 – Wyncode Academy
pg 52 – Kaufman Lynn Construction pg 54 – Master Development pg 58, 60 – B roward County Department of Public Works Transport & Aviation:
Real Estate:
pg 63 – Large: FLL
pg 31 – L arge: Ellis Diversified
pg 65 – Southwest Airlines
Small: ZOM Living pg 41 – Ellis Diversified
pg 72 – jetBlue pg 74 – Spirit Airlines
Marine & Logistics: pg 77 – Large: FLL Small: FEC Railway pg 79 – Port Everglades pg 82, 84 – FEC Railway
Education:
Pembroke Pines: pg 87, 88, 93, 94 – City of Pembroke Pines
pg 130– Nautical Ventures
Banking & Finance: pg 97 – Small: PNC Cressman
Tourism:
Healthcare: pg 107 – Large: NSU Small: Memorial Healthcare System pg 108, 112, 116 – NSU pg 110 – Memorial Healthcare System
pg 138 – Winterfest
pg 119 – Large: NSU Small: Broward College pg 120, 123, 125 – Broward College Dania Beach: pg 132 – Kimco Realty pg 137 – Large: NSU Art Museum pg 140 – Broward Center for Performing Arts pg 143 – Florida Panthers Pg 146 – NSU Art Museum Fort Lauderdale
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Pembroke Pines: Ranked one of the best places to live in the U.S., family friendly Pembroke Pines is branching out into new terrain in 2018. With new municipal and cultural facilities as well as hundreds of residences and a diverse collection of attractive retail and entertainment offerings, the Pembroke Pines City Center is at the very center of a vision for the city’s renewed urban core. Add to that great schools and medical facilities and the city’s growth speaks for itself.
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Progress in the Pines: With an emphasis on community, Pembroke Pines is building on its strengths as a family-friendly environment with excellent education and medical amenities while the new Pembroke Pines City Center is adding new dimensions to the area’s offerings Ranked as one of Money Magazine’s Best Places to Live in 2014, the City of Pembroke Pines, affectionately called “Pines,” is known for its calm environment and livability for young families. It has some of the best elementary and secondary schools in the county, and with five housing communities for adults older than 55, the city also caters to its senior citizens. Adding to its appeal is its convenient location, with a 30-minute drive to both Miami and Fort Lauderdale, making for an easy commute to the primary downtown urban centers of South Florida. The city has a total area of 34.4 square miles sandwiched from east to west between the Florida Turnpike and U.S. 27. These 34.4 square miles include huge areas for conservation, largely due to their proximity to the Everglades National Park. According to 2016 U.S. Census Bureau estimates, Pembroke Pines has a population of 168,587, making it the secondmost populous city in Broward County and the 11thmost populous city in the State of Florida. The city has a median household income of $62,116, and the 88 | Invest:
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more than 61,000 housing units have a median value of $207,500. The median age of the city’s resident is 39.5, and nearly 25 percent of the population is under 18. Post-war booms From 1950 to the mid-1970s, the east part of Pembroke Pines grew as an incorporation of the rest of the county. In 1960, the Village of Pembroke Pines, less than 1 square mile at that time, officially became the City of Pembroke Pines as a result of the post-World War II population growth in the area. The central business district underwent a period of development from the 1970s to the 1990s, which included the Pembroke Lakes Regional Mall. Westward expansion was made possible by annexing the 320 acres north of Pines Boulevard and east of Davie Road Extension. In 1980, the property from Flamingo Road to U.S. 27 was annexed, doubling the size of the city. After Hurricane Andrew in 1992, the western region of Pembroke Pines underwent a rapid expansionary period. Pembroke Pines’ infrastructure remained
relatively unspoiled following the hurricane, which caused around $26 billion worth of damage in Florida. Upon receiving insurance settlements, many flocked to the city to buy property, and Pembroke Pines was named one of the fastest growing cities in the nation in 1999. What followed this expansionary period was, and continues to be, a pattern of structural and economic growth throughout the city. Building blocks Pembroke Pines has various initiatives designed to maintain the growth momentum of the city. The guiding framework for the future development of Pembroke Pines is the city’s 2014-2019 Economic Development Strategic Plan. The plan profiles the city’s population, its assets and opportunities for increasing the city’s economic strength. Economic Diversification remains a primary focus, as the city is currently predominantly retail-centric. One of the most recent and successful efforts to further the city’s diversification agenda is the Bergeron Park of Commerce and Industry. The 300-acre commerce park is zoned for light industrial, general industrial and limited heavy industrial use. Within the commerce park, Bergeron Land Development is developing a 173,373-square-foot Class A distribution and warehouse facility on a 9-acre tract. Pembroke Pines is also rezoning many areas of land to encourage a new pattern of development. The city’s most recent industrial redevelopment project is the redevelopment of the Broward Correctional Institute into the 750,000-square-foot South Florida Distribution Center. The 60-acre site was purchased from the State of Florida for $13.5 million. Developers Core 5 Industrial Partners and Helms Development have broken ground on the first 224,572-square-foot Class A building, which is slated for completion in late 2017. Golden years Pembroke Pines has long been committed to taking care of its senior population. In the 1970s, the city established its first senior center, which sought to provide health and wellness activities for the growing senior population. In the early 1900s, the city built the 53,000-square-foot Carl Shechter Southwest Focal Point Community Center, which serves as a prototype for senior centers at the national level. Century Village is a nationally recognized active adult independent living community. The 7,780unit condominium community offers a wide range of amenities and recreational activities including a public golf course and 24/7 security. Century Village
Frank Ortis Mayor, City of Pembroke Pines
What role will Pembroke Pines City Center play in the city’s future growth? The original vision for Pembroke Pines’ layout was to develop in a spoke and wheel fashion. However, the city’s development pattern and expansion to the west created areas of disconnect. The Pembroke Pines City Center will act as a hub for the area and serve as the downtown of our central district. In order for a city’s downtown district to flourish, there have to be residents living near businesses. Once complete, residents of Pembroke Pines City Center will be able to enjoy the walkability of the area, shop in the retail component, eat at the restaurants and even enjoy entertainment offerings. We have a longstanding commitment to arts and culture, and the many awards and the support that the Frank C. Ortis Art Gallery and Exhibit Hall have received are proof of that. Ultimately, the idea is that once people are able to experience Pembroke Pines City Center, it will help attract new residents and support future business growth. What have been the driving forces behind Pembroke Pines’ ongoing growth? In 2014, Pembroke Pines was named by Money Magazine as one of the best places to live. Pembroke Pines was at one time, the fastest growing city in the U.S. In the wake of Hurricane Andrew, a wave of displaced residents from Miami-Dade began moving north to our city. There was a lot of available land to the west at that time that had already been assessed for the needs of infrastructure, roads and water. Because all of these assets were already in place, the city was able to absorb the rapid development set in motion by the hurricane. We thrive off of our diversity, and we also we attract all different types of businesses. Our economy is also becoming increasingly diverse. We are moving away from predominantly retail spaces toward developing more new industrial and office buildings. www.capitalanalyticsassociates.com
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PEMBROKE PINES OVERVIEW
also maintains a medical alert system and operates daily buses to assist with seniors’ transportation needs. The 160-acre Hollybrook Golf and Tennis Club, another of Pembroke Pines’ acclaimed senior living communities, offers an 18-hole PGA golf course and an 18-hole executive golf course surrounding the 1,992-unit complex. Park Place is made up over 1,000 units on 37 acres, surrounded by the city-owned Pembroke Lakes golf course. On 32 acres in the heart of Pembroke Pines lies Colony Point senior living gated condominium community. Its six buildings each feature 110 units over five stories, and the community offers a host of amenities tailored to senior living. A bus service is offered three days per week. Memorial Hospital West is located within a half mile of the community.
Education focus Education also has a considerable impact on Pembroke Pines. One of the ways in which the city has facilitated the advancement of its educational institutions is by increasing charter school development. Pines has developed its own citywide, city-run charter school system, comprised of four elementary schools, three middle schools and one high school. The Pembroke Pines Charter School System was created in response to the post-Hurricane Andrew building boom in 1992, when many people migrated to Pembroke Pines and the traditional public schools became overcrowded. The system is consistently given an A rating by the Florida Department of Education, and U.S. News and World Report named the city’s high school as one of the nation’s best. The U.S. Department of Education awarded National Blue Ribbons to two of the schools in the system. The Pembroke Pines Charter School systems educates just under 6,000 students, while more than 4,000 students remain on the waiting list. In addition to the city’s charter school system, the independent charter schools Franklin Academy and Somerset Academy both offer K-12 educational programs, while Renaissance Charter School provides K-8 programs. In total, around 8,000 students attend charter schools within Pembroke Pines. Higher education also has a strong presence in Pembroke Pines. The city is home to the 103-acre South Campus of Broward College, which offers both
The Pembroke Pines Charter School System was created in response to the post-Hurricane Andrew building boom in 1992.
Medical matters Memorial Hospital West and Memorial Pembroke are the two main healthcare facilities within the city. Memorial Healthcare System is one of the biggest and influential in South Florida, with nine locations throughout the region. With 384 beds, Memorial Hospital West is nationally rated for its high-performing treatment for patients with heart failure, chronic obstructive pulmonary disease and colon cancer. Memorial Pembroke, housing 157 beds, specializes in nephrology, urology and pulmonology. The Memorial Hospital West Campus is currently undergoing an expansion, which includes the addition of a new graduate medical facility, a 1,500-space parking garage and bed tower expansion. It will add 249,833 square feet of new hospital space.
Mark Doyle CEO – Memorial Pembroke
As we move away from the traditional hospital structure into community health centers, we would like to develop large outpatient centers where we can put more physicians and services. Our goal is that people won’t be required to come to hospitals to get outpatient care. With these centers, we can expand into areas that are underserved or that have the most population growth in order to meet the needs of the community.
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two and four-year academic degrees in a variety of fields. Broward College also maintains the Pines Center campus on the city-owned Academic Village property. Broward College has received a national award designating it as one of the top-three community colleges in the country. Meanwhile, Keiser University’s local campus offers courses in business, criminal justice and nursing, and Barry University’s local campus offers degrees in business administration, health services and information technology. Florida International University has a location in Pembroke Pines where it offers programs in public health, computing and international relations are offered. Moving parts Because of Pines’ access to I-75, U.S. 27 and the Florida Turnpike, getting in and out of the city is made very easy with a car. Started in 2014 and scheduled for completion near the end of 2018, four new express lanes are being added along the existing median of I-75, which spans about 3 miles across the city. At a total estimated cost of $485 million, throughout the four phases of its lifecycle, the 15-mile project will add direct connections to I-595 Express, the Palmetto Expressway and the Florida Turnpike. Crossing above the southern extremity of Pembroke Pines’ length of I-75 is the recently completed Pembroke Road Overpass. After years of discussing the need for a bridge going over I-75 and two years of actual construction, the nearly $8-million Pembroke Road Overpass was completed by the Florida Department of Transportation and opened in August 2016, providing an important connection between the eastern and western portions of Pembroke Pines along the city’s southern boundary with Miramar. Pembroke Pines is also home to North Perry Airport, devoted to private and business light-plane activity. The establishment is operated by Broward County Aviation and has been running since 1950. In 2016, there were 139,880 flights at the airport. It is currently undergoing new development by Diversified Aviation, and aviation hangars are being built on the North Perry property. Adjacent to North Perry Airport is the Broward College Emil Buehler Aviation Institute at Broward College, which offers three associate degree programs and five aviation certificates. On the houses The city’s focus on infrastructure, community and real estate has spurred much of its recent growth, and Pembroke Pines has planned several capital improvements for the next few years. Pines has been
Charles Dodge City Manager, City of Pembroke Pines
What have been the highlights of Pembroke Pines’ development in 2017? In April of 2017, we moved into our city center facility, which serves as both the cultural and governmental hubs of our community. The facility is the focal point of our City Center Regional Activity Center project which will have residential and commercial uses including retail, entertainment, hotel and restaurants. In 2017, we also saw new housing projects get developed in the Raintree Community and Centra Falls, with home sales between $300,000 and $1 million. We have seen infill development east of I-75 and new warehouse and industrial projects on the west side of the city. Post-recession, our community has seen steady growth in property values across each sector. What have been the main catalysts for growth over the past few years? At one point, Pembroke Pines was one of the fastest growing Cities in the U.S. We saw an increase of nearly 60,000 people over just a few years. Our population today is approaching 170,000 people. Pembroke Pines is strategically located with access to major roadways including I-75, U.S. 27 and the Florida’s Turnpike. Our residents enjoy a great quality of life due to access to great educational opportunities and programs for families of all ages. The creation and growth of our award-winning charter school system – one of the largest municipally-run systems in the country – is a major asset of our city. Pembroke Pines has taken a proactive approach in the real estate market. When it comes to commercial development, Pines Boulevard is one of the most desirable streets in South Florida. Over the past year, we have seen numerous commercial assets change hands with significant increases over previous sales. One property sold for double compared to the previous sale just three years prior. The development community sees a stable community with great assets, and they want to be part of our success. www.capitalanalyticsassociates.com
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Leah Carpenter CEO, Memorial Hospital West
How is Memorial Hospital West keeping up with the demands of Pembroke Pines’ growing population? The population of Pembroke Pines is growing, and the demographics of our patients are changing. We plan our expansion projects based on our extensive studies of what is happening in the market and the needs of our community. Memorial Hospital West is expanding our oncology center because we are seeing an older population with increasing rates of cancer. We currently have several ongoing expansion projects, and one of my top priorities is ensuring they are all completed on time. We are in the middle of building an additional 120-bed tower, which we are anticipating will open in February of 2018. That tower is already 75-percent full, meaning that our current patients can fill three-quarters of this new capacity. We are in the midst of growth in response to the needs of the community. When the hospital first opened, it was largely focused on managing the rapid growth of the baby boom. We still have a high demand for birthing services, but now we also have a large aging population. How will your new residency program change Memorial Hospital West’s role within Broward County’s overall healthcare system? One of the most significant developments within our campus is the recent completion of construction on our graduate medical education building. We are expecting our first class of residents in the Summer of 2018, so preparing for that is at the forefront of what we are doing. Our goal is to make Memorial Hospital West’s residency program a top destination among all residency programs. We will be a brand new program competing with residencies throughout the U.S. and even abroad, so we want to get off on the right foot for that. One of our seven pillars of excellence is a commitment to community and ensuring we are meeting the community’s needs, even beyond healthcare considerations. We treat everyone, regardless of their ability to pay. We want to make sure that care is equal and accessible to everyone. 92 | Invest: Greater Fort Lauderdale / | PEMBROKE PINES Broward County 2018
recognized by the Greater Fort Lauderdale Alliance as a Platinum Permitting City. The designation means that the city has adopted a streamlined permitting ordinance or resolution. To help developers, the city has an online tracking system as well as a designated member of staff that works directly with businesses going through the permitting process. Pembroke Pines has more than 10 million square feet of commercial development. Around 8.7 million square feet of its commercial property is made up of retail centers concentrated along the 13.1 mile stretch of the Pines Boulevard Corridor. The city has the premier shopping malls Pembroke Lakes Regional Mall and the Shops at Pembroke Gardens. It is also home to the three Power Center Developments of Westfork Plaza, Pembroke Commons and Pembroke Crossing. Pines has the lowest retail vacancy rate of any city both in Broward and in the entire South Florida area, averaging between 3 and 4 percent. Pines is also home to approximately 600,000 square feet of industrial space, with an additional 1 million square feet slated to be developed by 2018, including the Bergeron Park of Commerce and Industry. The Chapel Trail Planned Unit Development consists of two industrial areas at the 10-acre Sheridan Palms Business Park and the 75-acre Chapel Trail Trade and Commerce Center. The number of office parks in the city is also increasing. In 2016, Duke Realty completed the first building of the Pembroke Pointe office park, a nearly 148,000-square-foot, Class A office building with direct exposure to I-75. The TPA Group recently acquired the development rights for the remaining office acreage for $12.2 million and will begin construction in early 2018 on the Edison, a 335,000-square-foot Class A office building. Overall, the area’s office market is healthy. In the fourth quarter of 2016, the Southwest Broward office submarket had a vacancy rate of 6 percent, in contrast to the countywide vacancy rate of 11.1 percent. Central promise In April 2017, Pembroke Pines completed one of its most significant projects to date – the $58-million Charles F. Dodge City Center. With the inauguration of the City Center facility in April 2017, the city gains a multiuse venue that can host events such as conventions, trade shows, meetings as well as live musical and theatrical performances. The four-story, 175,000-square foot building houses the Pembroke Pines City Hall as well as a 35,000-square foot Grand Hall that can seat more than 3,200 guests. The Charles F. Dodge City Center complex is just
PEMBROKE PINES OVERVIEW
Major developments along its primary roads will help centralize the city’s economic and social activities.
one component of the larger Pembroke Pines City Center project, a master-planned 160-acre, mixed-use Terra Group development made up of retail, hotel, entertainment and residences by developer, Terra Group. The first phase of construction of the Pembroke Pines City Center, comprised of 350,000 square feet of retail and commercial development, is underway and is expected to be completed by the end of 2018. The first phase includes a neighborhood grocer, entertainment and restaurants. Approximately 70 percent of the area is already pre-leased, signaling a good start for the future of the Pembroke Pines City Center, which already houses such Pines symbols as the 9-11 and Veterans Memorials. The second phase of the project will include additional retail and restaurant options, while phase three will include hotel facilities. The project was created with the goal of generating centrality within the city, providing a gathering site for the estimated 400,000 residents who will live within the surrounding 5 miles of the area. Pembroke Pines City Center currently consists of three residential projects. The first of these is Montage Pembroke Pines, which was developed by Mill Creek Residential Trust. The project is made up of 700 rental units across 27 acres and was bought by Harbor Group International for $158.5 million in April 2017. The Town at Pembroke Pines was developed by the Related Group and is a
complex of 365 luxury units on 11 acres. The complex was sold to the Rockpoint Group for $87 million in April 2017. The third project, which will be constructed in the heart of the Pembroke Pines City Center, will be developed by Terra Group, adding another 387 residential units to the locale. Transport demand Despite the city’s proximity to Florida highways, Pembroke Pines currently faces challenges in public transit. Although the city wants to steer away from a commuter environment, residents continue to use cars to reach employment centers in Miami and Fort Lauderdale. The city is trying to encourage its residents to shift away from the use of personal cars by increasing the destinations serviced by Broward County Transit, including the City Center, in particular. Another obstacle that Pembroke Pines faces is the limited availability of land. Moving west is no longer an option for the city because of its proximity to the Everglades. For this reason, redevelopments are anticipated to continue taking place on the older eastern side of the city to improve the land and buildings that are already in use. Artistic leanings Pembroke Pines prides itself on its cultural offerings. www.capitalanalyticsassociates.com | 93
Ron Bergeron Founder & CEO, Bergeron Land Development
What is the importance of the Everglades to the people and economy of Pembroke Pines? Pembroke Pines borders one of the natural wonders of the world, and millions of people in South Florida rely on the Everglades for drinking water. Millions more come here to visit the Everglades and the fishing capital of the world, which in turn fills our hotels and is a big driver of the tourism economy. The natural resources of South Florida and the economic machine that they drive have an impact of about $50 billion every year, yet they also protect our quality of life. As both a businessman and a member of the Florida Fish and Wildlife Conservation Commission, we are trying to create jobs while at the same time undertaking a restoration of the largest wetland in the world. The goal for all of us moving forward is to have a great economy and build the American Dream through affordable homes and job creation, but do so while respecting and preserving our natural environment. What do you see as the potential demand for new industrial developments in Pembroke Pines? The Bergeron Park of Industry and Commerce has plans for around 2.3 million square feet of industrial buildings, which is a product in big demand across South Florida. Our park is diversified and is able to accommodate light and heavy industrial uses as well as manufacturing and outdoor storage. With the growing importance of distribution and logistics in Greater Fort Lauderdale, warehousing is also in high demand. These new industrial developments in Pembroke Pines are not only meeting demand, they are also creating new jobs. Pembroke Pines is a very pro-business city with high operating standards. The requirements in Pembroke Pines for an industrial and commercial campus like ours are much different than those for similar developments that went up in the past. Broward County has a very bright future and Pembroke Pines is a great city to work with. Wise leadership in government is critical to the future of our economic growth. reaterFort FortLauderdale Lauderdale/ / | PEMBROKE 94 Invest: G Greater 94| |Invest: PINES | PEMBROKE PINES BrowardCounty County2018 2018 Broward
Its proximity to the Everglades makes Pembroke Pines a popular area to experience the natural wonder of the area.
The city provides many activities and facilities to accommodate residents in search of leisure pursuits or creative outlets, and various entertainment options are offered throughout Pines. Of particular note is the 442-seat Susan B. Katz Theater. Situated within the River of Grass Arts Park, the theater hosts performances year-round provided by the Pembroke Pines Theater of the Performing Arts (PPTOP) such as Hairspray, Les Miserables and You’re a Good Man, Charlie Brown. As of 2017, PPTOP has been named the “Best Community Theater” for two years in a row by website BroadwayWorld. Pines is dedicated to preserving the arts, as evidenced by its many galleries. The Fletcher Art and Cultural Center hosts free guitar, drama, art and piano classes year-round for all ages. Studio 18 serves as an art gallery and workspace for local artists to exhibit their work and hosts eight art shows a year. The Frank, which opened in 2017 as part of the new Charles F. Dodge City Center and is named after Pines Mayor Frank C. Ortis, is another exhibition gallery that supports a cultural climate within the community. The city has fostered overall community engagement
David Martin President, Terra Group
through various cultural symbols and events celebrating holidays and locales representative of Pines. The annual Pines Day is perhaps the most characteristic embodiment of the city, celebrating the conception of the city April 22. In 2017, the city celebrated its 57th birthday with free entertainment, including rides and the 2017 Miss Pembroke Pines Royal Court Pageant. The Kiss Country Chili Cook-Off also takes place in Pines’ renowned 299-acre county-owned CB Smith Park, bringing approximately 20,000 people to one of Greater Fort Lauderdale’s most popular parks. Looking Ahead Pembroke Pines’ reputation as a safe, friendly city and its emphasis on education and healthcare make it an attractive destination for new families and seniors alike. It offers world-class entertainment and art venues, regionally recognized parks and A-rated schools. Most importantly, the city cares about its residents. With the groundbreaking Pembroke Pines City Center project underway, the goals of increasing the centrality of community activities and diversifying the city’s economy are closer than ever before.
What makes Pembroke Pines such an attractive city for Terra’s new projects? As one of Florida’s best places to live and work, Pembroke Pines is the second-most populous city in Broward and home to a growing base of large corporate tenants, so we’re seeing a surge in demand for new retail and lifestyle offerings in the area. Our mission at Terra has always been to improve communities through developments that fill a void in the marketplace, and we’re doing just that with projects like Pines City Center by meeting growing demand with a development that caters to residents’ everyday needs. There is a scarcity of developable land along Pines Boulevard, which creates a high barrier to entry and protects new projects from being diluted by future developments. This has provided a strong basis for us to pursue projects here, and we are currently developing several different properties in the area. Pembroke Pines is a mature market, and a lot of the housing stock reflects that. We felt that what was needed was a new supply of housing built to current standards of excellence with an emphasis on architectural aesthetic. Pines City Center is generating strong interest among national and regional retailers. Next door, the City of Pembroke Pines recently built a $60 million civic center complete with a 3,500-seat performing arts center and conference hall, an outdoor plaza, a 10,000-square-foot art gallery and a new city hall. How do Terra’s projects in Pembroke Pines reflect the current trends in what the housing market is demanding? People that traditionally either owned a single-family house or rented one now want to be closer to shopping while still being able to live in a larger space. Often times, in targeting the urban core, there is a strong focus on millennials, but a product catering solely to young professionals will miss out on opportunities to attract young couples and families as well. www.capitalanalyticsassociates.com|| 95 www.capitalanalyticsassociates.com