ZF Marine Signs Lease for New HQ

(Carl Cronan is editor of Real EstateFlorida.)

MIRAMAR, FL-ZF Marine LLC plans to establish its North American headquarters at Miramar Centre Business Park after signing a lease with Industrial Developments International Inc. for half of Building C. The ten-year 62,552-sf lease term will begin Jan. 1, 2009, at which time the parts supplier will move from its existing Hollywood base.

ZF Marine is a subsidiary of ZF Friedrichshafen AG, a German-based manufacturer of transmissions for airplanes, ground vehicles and marine vessels. The company has 58,000 employees at 119 locations in 25 countries and posted total sales of $17.3 billion last year.

“This is an excellent location for ZF Marine, providing access to Interstate 75 and Florida’s Turnpike,” says Larry Dinner, vice president of leasing for IDI’s Fort Lauderdale office. “ZF Marine is expanding its operations in South Florida, and Miramar Centre Building C provides new, class A space that the company requires for its growing business.”

Building C, at 15351 SW 29th St. in Miramar, was completed in June and features 30-foot clear height ceilings, early suppression fast response (ESFR) sprinklers and wide column spacing. The other half of the 125,104-sf building remains available for lease, Dinner says.

Atlanta-based IDI has developed 22 buildings totaling nearly four million sf in South Florida. It is in the process of building up to two million sf of industrial space in Tampa and has secured a site in Lake County where it plans more than 700,000 sf.