Avison Young’s Tom Viscount facilitated a 50,570-square-foot new-to-market industrial lease on behalf of PlantLab as reported by the American Journal of Transportation, at the new Bridge Point Powerline Road distribution park at 1981 N. Powerline Road in Pompano Beach, Florida. The lease represents the Amsterdam, Netherlands-based company’s second U.S. location – it’s the first on the east coast – and brings the 521,560-square-foot Bridge development to 100% leased.
“After presenting a variety of options, PlantLab ultimately chose Bridge Point Powerline as the ideal location because of its proximity to the distribution center of their primary client, Sysco-owned FreshPoint, and it meets the company’s clear height requirements to maximize the amount of produce they’re able to grow per square foot of floor space,” said Viscount, Principal with Avison Young and PlantLab’s exclusive agent in Florida. “Due to the location being new construction, PlantLab was able to secure certain features necessary for their unique indoor, vertical farming concept for large distributors.”
PlantLab merges knowledge of plant physiology with mathematical models and state-of-the-art technology to operate custom-built indoor farms at commercial properties worldwide. The company is committed to providing the freshest produce possible and reducing environmental impact by using 95% less water, 99% less land, and no pesticides. Therefore, operating a location near their main South Florida-based client will further advance their goals by reducing travel time from site to site.
PlantLab raised 50 million euros in February 2022 ($57 million) in financing led by prior backer De Hoge Dennen Capital.
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