APPLICATION
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QUANTUM
CORPORATE
PARK
AN AFFILIATE OF
DEUTSCH/IRELAND PROPERTIES
February II. 1988
Mr Carmen Annunziato
City Planner
City of Boynton Beach
200 Seacrest
Boynton Beach. FL 33435
Dear Carmen
Attached hereto is a copy of the latest revised Master Plan for Quantum
Corporate Park in Boynton Beach It may be beneficial in your future
evaluation of projects within the Park as they are presented to the various
agencies for review and approval
If you require additional copies. please contact Deborah Sheffield at
564-5114
Thank you
Very truly yours.
QUANTUM ASSOCIATES
1::t. ~:i~atML- /~
Vice President of Development
GWZjds
Attachment
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2455 EAST SUNRISE BOULEVARD SUITE 1106, FORT LAUDERDALE, FLORIDA 33304
BROWARD (305) 564-5114 . PALM BEACH (305) 734-3555
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QUANTUM
PARK
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St :i t e ,_, f F l,_,t 1 d a
DIvIslon of Resource Matagement
DE' r.'2t'-f; fI1E'nt of C, 'f11mUr It Y q ff "r-':;
,..? ,y.(. [en [c et'v 1 PIN Dt' l Vi::'
Tallahassee, ~lor Ida J~~gg
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ir1"".stf:.::" Plat.., Arnendrne d; ;p:
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Pe. :"_lr' telephcY.,j"", C.U ,ve sac 1'_1"1 E.~dr IH?'r "SU jav ;::deC-:S:;E' acceat this
SU"nilSSlOn I^Jhich out lne th,.,., .n Pd<:: ~"'! E'l' f2 adcJJ,t '_,nt:.<.J. Sa'(",c! PI)'.,e SCt'ub
__voJl.i be :J"r'eset'ved EV;::~l'!tl,ta.i. ed catlnn wIll be pdrt :' '_"Xr' Ecol'_'glcal
/ ~ an submItted at a later date Unt 1 t~dt submittal s cnmolete please
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.. ./ ~ccept th i S exh i bl t a: l_"~t CIlI",I"!fIH tfl1~~lt tu ~}r e~.et'v~ 4,(j aC:"r'es ,_,'F Sand 0 i nl::~
1':.........;" (,Ct'J!J 11'. acc,-,t'danr'e ~'Jl.Gh (,.y,dGl"l'! +1'b "f tl-'l-? lJevr.:'>l"JfIlE!r.j.. !]r'det
/
Ex ,icdt A ol.\tlirles 1"(, blue the D<:.H'cels that 't./J.l1 be t'equi"r'!:?o to pteset've
Ei .:::. per~cent '.:,f the J. t' t 01.; B. S 1 e at'ea ]. 1"-' tJarH:1 P j, rle Set' b A POt't lon I If
Parcel 55 shJwn in black, Will alsJ be preserved A tabulation of areas
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I l::ie 11 eve till s Sh'-'iJ 1 d t'ESO 1 ve yull,r' concer ns
pl~:?ase call
If yuu have any questions
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QUANTUM
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November 12, 1987
VIA FEDERAL EXPRESS
R.. "P r"p. ~ T~ 7E~ D.
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~ov 1 3 1981
Hr Carmen Annunziato, City Planner
City of Boynton Beach
200 Seacrest Boulevard
Boynton Beach, Florida 33435
PLim j iI G D;::~T
Re Haster Site Development Plan Amendment #3
Quantum Corporate Park (FKA Boynton Beach Park of Commerce)
Dear Carmen:
Quantum Associates hereby submits for your review and approval fifteen (15)
copies of the Haster Site Development Plan Amendment #3 for the above
captioned project We have simultaneously submitted six (6) copies of this
Amendment to the Treasure Coast Regional Planning Council and the Department
of Community Affairs for their review and approval, and one (1) copy to
Charles Walker, Palm Beach County Traffic Engineer.
The amendments to the Master Plan do not Increase development Overall, the
developed acres have been reduced by 6/10 of an acre The changes to the plan
involve only a redistribution of uses within Quantum Park and the creation of
additional development parcels through subdivision
We look forward to an expeditious review and approval by the City of Boynton
Beach
We would very much like to adhere to the following schedule that I have tried
to coordinate with the regularly scheduled meetings of the City of Boynton
Beach If, for some reason, the schedule I have suggested is not appropriate,
please advise
November 12
Submission to the Florida Department of Community Affairs,
Treasure Coast Regional Planning Council and the City of
Boynton Beach
December
Technical Review Board Heeting
December 8
Planning & Zoning Heeting, City of Boynton Beach
December 13
Expiration of the thirty day Chapter 380 review period
December 15
City Commission review and establishment of a public
hearing date of January 5.
2455 EAST SUNRISE BOULEVARD . SUITE 1106 . FORT LAUDERDALE. FLORIDA 33304
BROWARD (305) 564-5114 . PALM BEACH (305) 734-3555
Mr Carmen Annunziato, Continued
November 12, 1981
Page 2
December 30
Expiration of fifteen day advertisement period
January 5
City Commission Heeting and final action on our Proposed
Amendment #3
Thank you for your assistance on this matter. Please call me if any further
information is requIred
Very truly yours,
QUANTUH ASSOCIATES
-.!J"CYI5'(e J ZL:n'LJrLC>U'tCuJ
GEORGE'~ ZIHHERHAN
VIce PresIdent of Development
GWZ aern
CC: Hr Thomas K. Ireland, wi 1 encl
Hr Edward B Deutsch, wi 1 encl Hr. Helvln Simon, wi 1 encl.
Hr Peter Cheney, wi 1 encl
Hr Charles Walker, wi 1 encl
Hr Steven W Deutsch
Hr Peter Flotz
Jon C Hoyle, Esq., wi 1 encl.
DavId S Pressly, Esq , wi 1 encl
Hr. Enrico RossI, wi 1 encl
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MASTER SITE
DEVELOPMENT PLAN
QUANTUM CORPORATE PARK
AT BOYNTON BEACH P.I.D.
NOVEMBER 12, 1987
Prepared by
QUANTUM ASSOCIATES
In Consultation with
RICHARD L BOWEN & ASSOCIATES, Planners and Engineers
BRADSHAW GILL & FUSTER, Landscape Architects
ROSSI & MALAVASI ENGINEERS, INC , Civil Group
KIMLEY-HORN AND ASSOCIATES, INC , Traffic Engineers
GOODKIN RESEARCH CORPORATION, Economic & Marketing Analysis
COGNETICS, INC , Marketing
ttASTER SITE OEVELOPt€NT PLAN
Quantum Associates is pleased to submit herewith the Proposed Amended Master
Site Development Plan It is consistent with the Amended Plan filed with the
City of Boynton Beach on July 7. 1986. approved by Ordinance 86-37 passed on
October 21. 1986 Furthermore, the plan is consistent with the original
approved DRI Master Plan and Plan Amendment #1, reviewed and approved on
June 3. 1986
The proposed revisions to the Plan involve two basic elements - lot size and
the location of the Sand Pine Preserve land use The first of these issues
relates directly to the current market conditions in Boynton Beach
specifically and South Florida In general The demand for industrial
properties ranging in size from 1 1/2 to 2 acres is significant Quantum
Associates desires to meet this market demand without compromising the Quality
of development and building standards originally contemplated This Amended
Master Site Development Plan accomplishes our goals
Attached hereto Is a report prepared by John C Halliday III, Quantum's Vice
President of Sales and Marketing He has led all sales efforts on Quantum
Park for the last eighteen months In addition. he has conducted numerous
marketing analyses with the two consultants we have used in this area -
Goodkin Research and Cognetics. Inc His report excerpts various portions of
the consultant studies that specifically address the need to provide smaller
industrial parcels In the marketplace
The remaining changes illustrated in the Amended Master Site Development Plan
have to do with a redistribution of land uses within Quantum Park The
redistribution was created out of Quantum Associates' desire to preserve an
area of Sand Pine Scrub that was more desirable to the publ ic. and all
reviewing agencies, than the scrub that had been initially set aside in our 40
acre preserve For these reasons, existing development lots #65 and 66. south
of N W 22nd Avenue have been designated a preserve area In so doing, the
less desirable scrub areas of the 40 acre preserve have been changed to a
detention area and development area To further balance the overall land
plan, four water management areas that had been previously designated as lakes
have been revised to development areas
The redistribution of water management areas wil I require a revision to our
existing South Florida Water Management Construction Permit Such revision
has been conceptually reviewed In a meeting wIth South Florida Water
Management Although final approval Is contingent upon the detailed
engineering data yet to be submitted, they have provided encouraging support
for this newly developed plan
With respect to the new 14 3 acre Sand Pine Preserve area that wIll be
designated as part of our revised Ecological Plan, an on-site inspection was
held on Monday. November 9. 1987 In attendance were representatives of
Quantum Associates, Treasure Coast Regional Planning Council, and the City of
Boynton Beach It was determined that the Sand Pine Scrub areas, staked In
the field, were more desirable as a preservation site than those areas
previously designated within the existing 40 acre Sand Pine Preserve For
these reasons, unanimous support of a revised plan incorporating this 14 3
acre preserve area was received
Diagram "A" on the following page indicates the areas of the plan that have
been revised to accomplish subdivision and those areas that have been revised
due to Sand Pine Scrub relocation As shown, these reconfigurations have not
affected any of the major road arteries or any of the primary utility
distribution routes The only existing roadway in the plan that has been
affected is the cul-de-sac roadway running west off of High Ridge Road which
has been eliminated The only roadways added to the plan have been minor cul-
de-sac roadways needed for proper subdivision Diagram "B" ill ustrates the
proposed plan, whi Ie Diagram "c" illustrates the current approved Amended
Master Site Development Plan
Although land uses have been redistributed within Quantum Park overall, there
has been extremely little change In net land development As far as
development distribution is concerned, there has been a net Increase of 4 8
development acres north of N W 22nd Avenue corresponding to a loss of 5 4
acres of development area south of N W 22nd Avenue Commercial land has
remained unchanged, while Industrial property has Increased by 1 4 acres,
research and development Industrial property has decreased by 1 6 acres, and
office development property has decreased by 4 acres
Table #1 has been excerpted from the previous Amendments to the Master Plan
A fourth column has been added to illustrate the comparative differences
between our currently proposed plan and the approved plan The effective land
utilization and tenant distribution has remained unchanged
Economic analysts
Previous mention has been made of the attached market report that indicates a
requirement for lot sizes ranging from 1 to 2 1/2 acres The report specifies
the need to address that segment of the market in order to accompl ish the
absorption rates originally stated within the ADA/DR I Unless that segment of
the market can be tapped, the economic projections that were originally
established cannot be realized This is not to say that ultimate growth wil I
not be accomplished, only that the rate of growth within the region dictates
the requirement of flexibility that cannot be achieved with our current plan
Traffic analysis
Quantum Associates has analyzed the Proposed Master Plan Amendment to
determine whether the changes would cause any differences to those impacts
originally anticipated in the ADA/DRI and its subsequent amendments Previous
trip generation estimates were based on the proposed land uses and the overall
net usable acreage for each land use Trip generation rates were then applied
on a per acre basis to determine a gross trip generation for the project
Next, adjustments were made to account for internal trips between land uses
within the Park, and then the remaining external trips were assigned to the
area roadway network based on a projected directional distribution around the
site
DIAGRAM "A"
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MASTER SITE DEVELOPMENT PLAN
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DIAGRAM lie"
TABLE 1
COMPARISON OF LAND USE
AMENDED PLANS/ADA/DR I PLAN
LAND USE
PLAN PLAN PLAN
ADA/DRI AMENDMENT AMENDMENT AMENDMENT
PLAN #1 #2 #3
Commercial
club (recreational) o 0 3 4 3 4 3 4
other commercial 27 6 27 0 26 3 26 3
Office 128 9 133 133 7 133 3
Light Industrial
research & development o 0 53 3 46 2 44 6
other light Industrial 254 7 144 3 153 1 154 5
SUBTOTAL OF DEVELOPED ACREAGE 411 2 361 1 362 7 362 1
Lakes/wetlands/open space
Lakes 76 4 50 3 50 3 43 5
Detention area o 0 o 0 o 0 13 1
Wetlands 5 8 6 0 6 0 6 0
Sand pine preserve o 0 40 0 40 0 40 0
City park & other space o 0 48 6 43 9 37 6
Roads 46 5 33 9 37 0 37 6
TOTALS
539 9
ACRES
539 9
ACRES
539 9
ACRES
539 9
ACRES
The original analysis did not anticipate or assume any specific lot sizes
Rather, It assumed a uniform density per acre based on surveys conducted by
the Institute of Transportation Engineers Assumptions were made for the
office trip generation rates because specific guidelines on a per acre basis
were not available for offlce use
Since lot sizes were not involved in the trip generation estimates, and
guidelines are not available from ITE to determine how trip generation might
be affected by lot sizes, no change in the originally anticipated
transportation impacts will result from this Master Plan change
Kimley-Horn and Associates, Inc , concur in this analysis, as Is evidenced by
the attached letter from John Benditz The traffic analysis provided with
Amended Master Plan #2 remains valid and is attached hereto for your reference
'n reviewing this latest Amendment
Kim/ey-Horn and Associates, Inc. 4431 Embarcadero Drive, West Palm Beach, FL 33407. (305) 845-0665 1
West Palm Beach, Tampa, Orlando, Fl Lauderdale, Miami, Palm City I
Raleigh, Durham, Charlotte, Nashville, Dallas, Austin, Phoenix
November 12, 1987
47570l(I5)P87-50
Mr Peter Flotz, P .E.
Quantum Park
2455 East Sunrise Boulevard
Suite 1106
Fort Lauderdale, Florida 33304
RE: Quantum Park Master Plan Revisions
Dear Mr FIotz
As requested by you, we have completed a traffic impact comparison of your
proposed revised site plan. Our review compared land use by acre associated with
the adopted plan as compared with the proposed plan
The results of our review indicated a reduction in both office and industrial
acreage which will be a net reduction in traffic. Further, there will be no
significant change in traffic in the specific areas of the plan that are being revised
If we can answer any questions, please contact us.
Very truly yours,
KIMLEY~~SOCIATES' INC.
~enditz. P E.
~at~
JFB/RRP mec
cc Steve Oenbrink
WCUfJDO@!!lo [){J@[]'[Ji)l
Kim/ey.Horn and Associafes,lnc. 4431 Embarcadero Drive. West Palm Beach. FL 33407 · (305) 845_06651
West Palm Beach. Tampa. Orlando. Fl Lauderdale, Miami. Palm City,
Raleigh. Durham, Charlone, Nashville, Dallas, Austin, Phoenix
July 3, 1986
4479 06(07)/T021-49
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Mr George Zimmerman
Deutsch Ireland Properties
Suite 1106, International Building
2455 East Sunrise Boulevard
Fort Lauderdale, Florida 33304
Re: Boynton Beach ParI< of
Commerce (Quantum)
Traffic Analysis Update
Dear Mr Zimmerman:
As requested by you, we have updated the traffic analysis for the above referenced
project to reflect the most recent site plan changes (plan dated June 23, 1986) these
changes reflect an internal roadway network change south of NW 22nd Avenue Our
review also included the specific use for a 55 0 acre industrial parcel
(Warehouse/Distribution Center) also south NW 22nd Avenue
The traffic generated by the updated site plan was assigned to the revised roadway
system (No change in traffic distribution would result from the plan revisions) the
external impacts had no change but the intersections along NW 22nd Avenue within
the project will have some minor lane use changes. The peak hour traffic volumes and
the intersection needs for the revised network are depicted on the attached sketch.
Also enclosed with this letter are the critical path capacity analysis computer printouts
showing the level of service at each intersection.
Regarding the warehouse/distribution center, it should be noted that this is a
use assumed within the industrial category reflected by the ITE traffic generation rates.
Therefore the use was already considered by the traffic studies and updates which have
been completed including this update.
Enclosed under separate cover is an appendix to this letter report containing traffic
assignment update work sheets. Please let us know if you or the City of Boynton Beach
has a question regarding this report
Very truly yours,
JRZ/nan
Attachments
1LEY-HORN AND ASSOCIATES, INC
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MARKETING REPORT
QUANTUM CORPORATE PARK
JOHN C HALLIDAY III
VICE PRESIDENT OF SALES AND MARKETING
OCTOBER 1, 1987
QUANTUM CORPORATE PARK
MARKETING REPORT
An evaluation of market conditions and prospect activity for Quantum Corporate
Park during the past twelve (12) months indicates a need for greater
flexibility in land sales The following overview of factors affecting past
sales activity provide recommendations for enhancing the success of future
efforts Oirect Quotations from exhibits prepared by our marketing
consultants, attached hereto, have been used to support the conclusions
Prospect Activity
During the past twelve (12) months, our marketing program has identified
approximately seventy-four (74) Qualified prospects expressing an interest in
locating their operations in the Boynton Beach/Palm Beach County market
These are primarily industrial users Of these, twelve (12) have indicated a
preference for leasing space
The lease requirements range from 5,000 to 80,000 square feet, with an average
of approximately 8.250 square feet and can be satisfied by leasing space in a
multi-tenant building, built on parcels of three (3) acres plus
The balance of sixty-two (62) are in the market to purchase a site Of the
sixty-two (62) purchase requirements, thirty-five (35) are in the market for
sites ranging from 1+ to 2 5+ acres This represents approximately fifty-six
percent (561.) of this total identified market With only three (3)
exceptions, all of Quantum Corporate Park's industrial classified sites are
three (3) acres or greater This disparity between inventory and demand
indicates a need to develop a plan to accommodate these prospects Below is a
table showing the exact distribution of the identified prospects requiring one
(1) to three (3) acres
Acreage
10-15
15- 2 0
20- 2 5
25- 3 0
# of Prospects
13
8
8
6
Total
35
These alone represent over fifty-six (56) acres of total requirements
The only way we can currently accommodate these prospects is by sub-division
of existing larger lots This is a difficult process with specific
limitations on the number of times it may be done
Goodkin Research Corporation Study
In a study done by Goodkin Research Corporation, a nationally recognized real
estate advisory firm, Quantum Corporate Park was analyzed for market
feasibility, potential, and recommended marketing strategy
- 2 -
Certain aspects of the local competitive market, and the market factors
influencing their development strategies, were specifically noted Most
obvious of these is the fact that most competitors offer smaller lots in the
one (1) to two (2) acre range (see Exhibit "AtI)
From its initial conception Goodkin Research has recommended that Quantum
Corporate Park give strong consideration to platting lots in the 1 25 acre to
2 0 acre range because of the flexibility it provides in addressing the market
segment
CO!=Jnetics, Inc.
An important factor in determining a project's development strategy is local
economic growth trends The internationally recognized research firm,
Cognetics, Inc , has provided a valuable analysis of the local market to
Quantum Associates Headed by Dr David Birch and affiliated with the
Massachusetts Institute of Technology, they are one of the best sources for
specific market data in the country Although their analysis is based on data
collected and analyzed over the past twenty years, they are most current with
regular updates and micro-site corrections
In relating to the Palm Beach County market, certain factors have been
identified which support the recommendations by Goodkin Research Corporation
mentioned earlier Exhibit "B" provides the context from which these
statements are taken
In Palm Beach County, small companies were the greatest net job
creators during the period for which the most recent micro detai I is
available (1980-1984) With nearly a seventy percent (70~) growth
rate in firms employing 0 - 19 people, they represent the users of
facilities ranging from 8,000 to 30,000 square feet Facilities of
this size are customarily built on parcels ranging from one (1) to
three (3) acres.
2 Palm Beach County relies most heavily upon local independents for its
growth
3 Among establishments with an identifiable age, young companies
indicated the fastest rate of job gain
There is a clear indication of the need to be able to provide multiple options
to this very important market segment
Palm Beach County Development Board. Inc.
The final component of this report is an analysis of the prospect activity
being experienced by the Palm Beach County Development Board, Inc Its
"leads" come from initiatives undertaken by both the local organization and
the Florida Department of Commerce
- 3 -
An analysis of their most recent report, focusing on 1987 activity, indicates
that approximately fifty percent (50~) of their prospects are in the market
for facilities of 35,000 square feet and less Again, at 15,000 square feet
of building to an acre, this translates to approximately 2 5 acres or less
(see Exhibit "Ctl)
Conclusion
Based on our past prospect activity, that experienced by the Palm Beach County
Development Board, Inc , and the information gleaned from the Goodkin and
Cognetics studies, it must be concluded that a large segment of our target
market will be the smaller user requiring between one (1) and three (3) acres
Since Quantum Corporate Park has only three (3) industrial classified sites
less than three (3) acres, we are missing a large segment of the market It
is, therefore, recommended that we develop a program to provide sites from
approximately 1 to 2 5 acres, thereby, encouraging faster absorption, and more
Quickly providing jobs and economic growth to the region
GOODKIN RESEARCH CORPORATION -Advisors to The Real Estate and Financial Industries
MARKET FEASIBILITY OP THE DEVELOPMENT
POTENTIAL AND MARKETING STRATEGY REGARDING
BOYNTON BEACH PARK OF COMMERCE
Prepared Cor
BOYNTON PARK OF COMMERCE ASSOCIATES
Goodkin Building. 275 Commercial Boule'/ord. Louderdole.by-lhe.5eo. Florida 33308 (305)"93 5011. Miami 9406006
EXHIBIT A
1-25
LOT SIZES AND LAND PRICES
According to the preliminary Master Plan of the Boynton Beach Park of
Commerce, the park is divided into large to:!: acre lots Our competitive survey shows
that with the exception of Arvida Park of Commerce's 5:!: acre tracts, most
competitors offer one to two acre tracts, reflecting strong demand by relatively small
users. While we feel there is a need for large tracts (and our projected absorption
rates assume that the developer will be able to attract several large occupants), it is
important that the developer is also able to satisfy the demand by potential occupants
requiring minimum lot sizes of roughly 1.25 acres. In order to achieve the marketing
flexibility required in a project of this size, it is strongly recommended that the land
plan be amended to meet the needs of these market segments. It is advisable to plat
relatively small and combine lots, as opposed to platting mainly large tracts as this
could present more of a problem when trying to split. In this respect, it is also
important to realize that, in general, smaller parcels tend to generate higher prices
per square foot than larger ones.
Depending upon such factors as size of parcel, location within the park,
financing, type of buyer/user, the recommended land price in present-day dollars
varies from approximately $6.50 to $12.00 per square foot with an average of $8.25
per square foot. These prices are somewhat lower than those currently being quoted
at Arvida Park of Commerce, and roughly in line with Hillsboro Executive Center and
Corporate Park at Cypress Creek. Given the outstanding amenity mix planned for the
development (e.g., golf course, day care center, meeting/conference facilities, health
club, restaurants/retail services), we feel that these prices are realistic and offer
potential occupants excellent "value" 1.
1
If an interchange is built at 1-95 and N W 22nd Avenue, land prices at some of
the parcels could increase by as much as 10 to 20 percent.
Afr1..'
{ir,m;
tl O/~
~tWJ~-:.
~r~ :m
V~,wrm
i;;:;~f!
[?@~@@J[J\:~U l
1-27
OTHER CONCLUSIONS AND RECOMMENDATIONS
Several additional comments relative to the projected absorption rates and
recommended strategy follow:
o iven the diversified product mix, the land and marketing plan should be
highly nexibile to enable the developer to make the necessary
moclifications over the life of the project if and when changes in demand
occur wi thin each product category.
o It is assumed that an aggressive and sophisticated national sales and
marketing program will be implemented, and that the developer will adopt
a mixed disposition strategy including offering speculative spaces for lease;
building to specification for a pre-determined use based on a lease, lease
with the option to buy, or purchase plan; and land sales to users and
developers.
o Since a sales program forms an integral part of the overall marketing
strategy, it is important that appropriate restrictive covenants be
implemented in order to maintain and enhance the quality and consistency
of the overall development. The restrictive covenants should, but not
necessarily, be limited to the following: type of use, location 'within
development, architectural design, landscaping, building-to-Iand ratios,
parking requirements, entry treatments, signage and height restrictions.
~iIF[?@~@0J[?~~[; 1
OEUTSCH-I~ELArD DRQPE~TIES
- PIlY~Tf)~ BeACH -
cognctics
.\n,1Ijsis of EconOlT'ic C'ange in the
Soulh Flori1a Pe~1 Est~le I".Hkel
T h I! S '.) IJ l h F lor ~ ;:J e con 0 "; y i son e 0 f the n a l ion's IT! 0 s t cl c t i v e
(\nd !''(citing marl<etplaces. Over tt>e len-ye-lr perioJ.
1~72-~2. the thrce-ccunly are~ grew ~y np~rly 400.0~O jobS --
(\ ~l% increase over its lQ72 employment base. Translated
i n t 0 s 11 u are 1 0 0 tag e, t hat Mea n S (c 0 n S e r vat i vel y) t hat 1"1 ear I y
t. 0 mil I ion s Q IJ are tee t 0 1 n e l n p W S :l ace w ere con SUIT, e d d u r i 1"1 9
t'1is oeriod 0' exceotioni'll growth. And although exoansion is
not I ikel'f to persist at hislor ical levels. the areas does
C' r 0 ." I set 0 con l i n u e too f , e r s i Q 1"1 i f i c d n t d eve I 0 pm en t
['lotential.
The k~J to caoltalizing on this rl)t~ntial lies in the ability
t" un1~rstana the m~rketpl2ce -- in particular. to understand
not only the QrOSS o~lt~rns 0' ~CJnomic change. tut ~ore
imporLlntly the myriaj of comole'Cities which unLlerlie this
a)9re'late 0' loss or gain. Thus. ",hile growth may be the
dominant overall tren'J in the South Florida area, it is not
by ~ny me~ns a universal p~enomp.non. Those who understand
t his -- and who po sse s s the k now lee 1 e tor e a c h 0 LJ t ~ ire c t I y
tot he po c k e t s w h i c h 0 f , e r th e 'J r P. <I t est ~ 0 ten t i a I - - w i I I
h~ve a distinct and obvious advantage.
We see this phenomenon Clearly in the case of the South
Florida example, beginning with the fact that there are major
dlrferences simply In the overal I character and growth
patterns of the three co~ponent counties -- Dade, Broward,
and Palm Beach. Dade and Palm Beach Counties are almost
opposites on a spectrum, the 'ormer being a mature but stil
volatile and healthy economy, and the latter being a braSh,
fast-growing upstart. ~roward County -- economically, as
w'!ll as geograp~ica\ly -- lies SOIr1E'_here in the middle.
b",lancing Its stronQ tJro~lh ag<llnst a fairly well established
"conomic base.
The following report tal\es a more detaile:1 look at the
results 0' our analyses of the thrp.e counties. For each of
the Economic AnCllyses, a written summ.HY or the rin::tings Is
presented. along with detai led data on historical and recent
employ~~nt change in the target market.
I (l(lnPl.cs. Inr
1,~ C.lnllJll(f,I"1' Id (IF,
r.lmbrod.,., "-1.1' .lr"". :1' 11~1.10
Ii 11 661 0 3110
EXHIBIT 8
(-1 P"OPE~TIE5
F <) I"" l~ e ~ c" C ~ .
5 l ...... A C Y J J: G:.' (1 1,.' TIT", :: t-. 0 S
The Palm :l~ach C'J. <':;C'10-'y ~orforr.or' ::ettt'r trap the L.'. econ0"'''
d u r i n ~ t ., ~ 1 c 7 C ' S .1 r · .,. r I y ~ ') " (J ' s . ;. r. I I e l h p L' 5 ,J r "? 'oW b., .!.~. 1: ere P. fl t
durln'~ tt-e 1972-82 :lericr -3S 1......01". rJI ~each Co. qreW' '-1; p('rcent.
P a lIT' ~ e 2 0::" Co. t ~ r 1 t~ j t c r'~' I f' C t t "e ; .. n era I p ,] t t err 0 f
chance ~1I0E'r ierce1 '1at i.Jr.d jp
cyclic-~I
('J~;)GJpJ .\r'1t.dl 're....., I{ate
Period t..' . S . i' 2 I :~ neacr (J [ i , , prE nee
1072-7? 1 . E f) 3 . q
lQ7f;-PO 4.5 ':.7 <; . 2
lqeQ-82 -.4 .c: .4 ".8
10lJ2-P5 2.5 q . 1. 5 . (}
Palm Beac" Co.
major ~ro~th oeriod i~
r1id tetter th;}r"\ He U.S. 35 a ojhole
1 (1 7 b - P '), a n G a 1 a i n C IJ r i n 1 the 1 9 Q C - e 2
juring the
recession.
The ~lg9~st contritLtcrs to tha P?I~ eeach Co. job b~se during the
1~72-Q2 per lotj .,erp
~~~1~!.
~~1_~f~_lnQj_r!.~a1~~
F~ting. [ ('rin~inq Pl~ces
4ealtr ("~rvicps
Srecl~' Trlce ~(~tractors
~0sin~~~ 5~rvices
Opal ES.1t~
Tr~nsr:ort?tion hat.
Ge"erCJI Ccntractors
EI~ctric ~ Electronic EQot.
Food Stores
,.,ic;c. Optail Tradt'
117f1f:..
...b..~.J_l
_f;L 6 }~
c:: Oq'"
-J. _ ~1
_~~2~
.-!t. 2.2 0
-372,_
l5'i2
._)~ 'J 2
.nIL
-1-
Economic Change
Tne least effecti ve corotr iDutors
nave teen
~~~lQ.r:
~~1_~~tt_~2~~_~L~al~~
Heavy Construction
Te'lCtile ~anufactLJrin'1
Stone,Clay.Glass rrcducts
Co~bin~c Investments
Oi' r.. Coal Products "'fg.
Forestry
Tobacco Procucts ~f~.
Pinel ines
Qailroacs
Co.::! 1 t Li9nit~ :->irin~
-553
-150
-43
-34
-34
-25
C
o
o
C'
~~YL~~~_QL_~~l_l~Q_~t~~lh
It is irnportant to !-nc.o/ ...~ic.' \o'lncs ot co""nanies, on balance, are
creatir,'1 net n~w jcbs. Ey "en b?.'a"lc~" we mean the net of new startups
ana expansion~ and relocdtions into Dzlrn beach Co. over the losses due
to closings, layoffs, and out-~oves. we determine the net change by
examining the behavior Of each inrjivi jual tusiness in the area, netting
the gains against the losses as wp. ~o.
~.t_~lt~
were t.he
recen.
.Ob
I ~
flr.Ql~~!!!~!ll_~lz~
~~1_1~Q~_rL!a1~Q
Percent Net
lQh__~tsllg~
O-lq
1')4'11'
6Q.8 I.
20-9 ~
t qQ(
23.7
lCO-40'1
12 .~ (
15.Q
sno+
.._ (~ ~~ L,
24.1
Unknol.ln
l"L.l
120.5
TOT A L S
40~;04
34.5
-2-
Economic Change
a~_!~~~_Q!_g~Qgt~hl~
P<:!lrr: Reach Ca. rei ies most heavi Iy upon local
its 9rC"j;.r'\;
Independents for
Q~~~t~n12 ~~~_l~~~_~t~J!~'
Percent Net
l~~__~hilQg:
lr~eopncent 22970
36.4 %
Sunsidiary 131
2.0
Lccal Hea~quarters 11313
66.2
13rar"c~ (Local ~C)
-2e~1
-37.0
9r~nc~ (~cn-Iccal He)
~7"HJ
4~.q
TrT~L~
40313
34.5
f.:t_A.s~
~rrong establ i shments
indl~~tea ~ne faStest ral~
.
with
or JOO
an identifiable age, young companies
~aln.
Percent Net
A5~ ..i~ 1_1~ tl1_~!.~ al ~~ 1 rlt. __ ~b 20 S~
0-4 3<;~30 172.q %
5-~ -3260 -17.9
q-ll -1542 -16.6
12+ -1414 -4.1
Ur~nown 6~qq 21.7
---------------- ------------
TfHLS 4C313 34.5
-)-
Economic Change
~lz!:
The I] rea t est n urr be rot r a 1= i d I Y 9 row in 9 est a b lis" I!l e n t s are sma I I
'-.0. ~a~iaJy Percent of
ErroloYlTle"t GrOwing Rapidly Growing
SlIJ:______ f..i.t~tll~t!!lJ:!ll.i f.i1~t:ll.1h~g!l1.i
0-19 202 61.8 %
20-C:Q ~3 1q.3
10 ')- 4q Q 27 8.3
5no+ 3(, q.2
IJrknown I; 1.5
.-
-------------- --------------
TOTALS 327 100.0
Q!t!l~r.~bi~
In t~r~s of ownershi~ status,
I~rgest nu~~er or rlgn-~r~~ers.
local
independerts represent the
Dl:!!l~r.~hl2
t- o. ~ ar i d I y
Cro...in9
E~l:lt.ll~t!l!!:!ll~
Percent ot
~aoidly Growing
f.11~.bli~h!!!!:!l1~
Indeoendp.nt Firm
Z 22
67.q I.
Subs;~lary
f
2.4
Hpadquarters of Firrr
6C:
18.3
13rar.ch cf Loca I F i rl!
Q
2.15
~r~nch of ~:on-Iccal Fir~
2P
8.b
TCTALS
327
100.0
-5-
PALM BEACH COUNTY DEVELOPMENT BOARD, lNC
OROSPECT STATUS - JULY 15, 1987
NUM = DEVELOPMENT BOARD PROSPECT NUMBER - MADE UP OF THE YEAR AND MONTH OF
INITIAL CONTACT, FOLLOWED BY THE PROSPECT NUMBER.
STAT = STATUS - BASED ON A 1 - 10 SCALE, THE MORE ACTIVE THE PROSPECT, THE
HIGHER THE NUMBER. THE FIRST NUMBER IS THE PREVIOUS STATUS,
FOLLOWED B~ THE CURRENT STATUS.
ST = STATE WHERE PROSPECT IS CURRENTLY LOCATED
FDOC = PROSPECT WAS BROUGHT TO OUR ATTENTION BY THE FLORIDA DEPARTMENT OF
COMMERCE
TYPE OF INn. = THE TYPE OF INDUSTRY OR PRODUCT
NE~DS = PROPERTY OR FACILITY NEEDS OF PROSPECT
EMPS = NUMBER OF ANTICIPATED EMPLOYEES
SOR = CONTACT SOURCE F:FDOC, D=DIRECT CONTACT, M--MARKETING DEPT., R=REFERRAL,
O=OTHER, C=CHAMl3ER OF COt+1ERCE
NUM STAT ST TYPE OF IND NEEDS EMPS SOR
---
84-05-108 10-10 OH STEEL LATH POLK COUNTY 45 0
84-02-112 10-10 NY N.C.C.l BOCA RATON 500 0
84-08-116 10-1Q TX GRANDY I S BOCA RATON 15 0
84-10-:20 !.0-1O NJ STAN TEL INFORM SYS. DEERFIELD BCH. 50 0
84-11-126 10-10 MASTERINDUSTRY AB BROWARD 2 0
84-12-131 10-10 FL PARKER HANNIFIN PHOENIX 40 0
84-12-132 10-10 NY BERRY VEAL COMPANY BOYNTON BEACH 50 0
85-01-134 10-10 IL HEADQUARTE.~ CALIFORNIA 100 0
85-10-165 10-l0 NJ AOcE PLASTICS BOYNTON BEACH 40 0
86-02-167 10-10 FL TRUCK TRAILERS MIAMI UK 0
86-01-169 10-10 NJ N W.L. TRANSFORMERS RIVIERA BEACH 20 0
86-01-172 10-loO FL STUDIO, INC LANTANA 0
B6-02-1B1 10-10 FL PUBLIX BOYNTON BEACH 140 0
86-02-182 10-10 NY J WALTER THOMPSON TAMPA 500 0
A6-02-184 10-10 FL CONTROLLED FUEL SYSTEMS RIVIERA BEACH 50 D
86-04-19A 10-10 GA DOCUMENT SERVICES BOCA RATON 200 0
86-02-206 10-10 OH ESSEF CORPORATION ORLANDO 0
86-06-217 10-10 LACE MANUFACTURER BROWARD 120 F
B6-07-226 10-10 AVIATION SUPPORT TAMPA 75 F
86-07-227 10-10 OT ERINTEC BOCA RATON 50 F
B6-07-22B 10-10 BOSTON WHALER DAYTONA BEACH 20D F
85-10-231 10-10 OH WRISCO INDUSTRIES, INC. P. B. GARDENS 30 F
86-10-247 10-10 NY PLAINVIEW ELECTRONICS BOCA RATON 3 M
86-04-166 10-10 NY TIME LIFE MAGAZINE TAMPA 1000 R
-B7-01-287 10-10 FL t-EPCO/CENTRALABS RIVIERA BEACH 130 0
-87-05-344 05-10 FL DOORS & CONST. PRODUCTS 55M 120 R
87-06-357 05-10 OH MODULAR COMM. BUILDINGS ORLANDO M
84-06-104 08-08 WI MEDICAL TECH 15-20 ACRES 250 F
B6-02-1i;8 08-08 WI DISTRIBUTION 12-14 ACRES M
86-02-1B3 08-08 r'L MEDICAL TECH. 20M LT. MAN 30 F
85-09-161 07-07 CA MED TECH 30M HIGH TECH 100 0
86-03-218 06-07 NY TEXTILE 15M MAN 30 R
-87-02-294 05-07 FL PNEUMATIC EQUIPMENT 80M 75-100 R
-87-02-300 07-07 NJ PUBLISHING 65M 300 D
PAGE NLJt.'BER 1
EXHIBIT C
------- - - ~------------
\lUM ST.~T 5T 1:lC::: OF INO NEEl)~ E~"'PS SOR.
---
-97-03-321 07-07 ~LECTRONIC ASSEMBLY 40M 250 F
35-J2-137 06-06 NY ELECTRONIC COMPON~\lT 20M LT. MAN SO R
86-03-195 06-06 MI METAL FABRICATORS SSM BLOG 65 0
86-06-257 06-06 OH LIGHT MANUFACTURING M
86-12-282 06-06 IL METAL FAB 20M 50 0
-87-02-292 05-06 NY PUBLISHING 30M 100-110 M
-87-03-304 06-06 Fl GLASS MANUFACTURING 3 ACRES D
-87-05-345 05-J6 G8 AVIONICS 3 5M 12 R
84-05-111 06-05 OH METAL SPINNING 20M LITE MAN 40 0
85-01-138 06-05 NY DISTRIBUTION 40M DIST 25 0
85-05-146 05-05 NJ PAPER BAGS 30-40M LT MAN. SO 0
85-09-160 05-05 OH ELECTRONICS SaM LT MAN UK 0
86-02-176 05-05 NY VERTICAL BLINDS 0
86-02-177 05-05 MEDICAL TECH 35-60M LT MAN. 125 F
86-03-188 05-05 Fl COMMERCIAL FOOD PROC UK 0
'36-03-189 os-os MA PLASTICS MANUFACTURE 10-50M LT MAN. UK 0
86-03-191 05-05 HI-TECH 5~~ LT. MAN 25 F
86-04-196 05-05 MFG /OISTRIBUTION 30M 25 F
86-04-200 05-05 HEADQUARTERS IS-20M OFF 150 F
86-04-201 05-05 Fl PLANT BREEDING NEAR LAKE/POND UK 0
86-04-202 05-05 MI CONSULTANTS 0
86-05-208 05-05 FL ELECTRONIC FASTENSER 10M EXP~ND 40 F
86-05-211 os-os FL ELECTRONICS 10 ACRES 150 R
86-05-212 05-05 FL NURSERY 15M OFF/WARE 25 0
86-05-214 os-os \lY PLASTICS 10M MAN 14 0
86-06-222 05-05 CO AUDIO SPEAKERS 5M MAN 20 F
86-06-223 os-os NY PRINTING 25M MAN 30 C
86-07-224 05-05 ROOF TILES UK 15 F
86-06-230 05-05 NJ HEAVY 150M MAN UK R
86-0B-235 05-05 FL RV REFRID & FREEZERS 100-150M MAN 150 R
86-09-237 05-05 PRINT EQUIPMENT tJFG. 30M-60M 100-150 F
86-09-238 05-05 FL HYDRAULICS FITTINGS UK 10 0
86-10-248 05-05 NY R
86-10-251 05-05 DE R
86-08-253 05-05 FL 12-15M 0
86-08-254 05-05 TX DEVELOPERS 0
86-08-255 05-05 OK 0
86-07-258 05-05 MA AVIONICS 25-60 R
86-08-259 05-05 UT BIO-TECH COMPANY 30 M
86-08-261 05-05 IL 0
86-10-262 05-05 NY FASTENINGS 5M M
86-10-263 05-05 IL DRYWALL 0
86-10-265 05-05 FL MF-OICAL AEROSPACE 20M 50 D
86-10-267 05-05 MI INDUSTRIAL LADDERS 16-20M UK M
86-11-268 05-05 MA RESEARCH & DEVELOPMENT 10K 10-20 D
86-11-270 05-05 NY AERO SPACE S-8M 25 0
86-12-272 DS-05 NY SOFTWARE MFG. 10-S0M U/K M
86-12-273 05-05 MO BLUE PRINTS U/K U/K M
86-12-274 05-05 TX MICRO FILM 6-10M U/K M
B6-12-275 05-05 CA SECURITIES U/K U/K 0
86-12-276 05-05 MI COMPUTER SERVICE 2M U/K M
86-12-277 05-05 PA CONSULTANT U/K U/K M
86-12-278 os-os FL DECORATOR SUPPLIES U/K U/K C
86-12-279 05-05 FL COt-PUTER PARTS SOM 70 D
B6-12-280 05-05 NY U/K U/K U/K F
PAGE NUMBER 2
NUM ST~T ST TY?=: OF IN:) NEE~.~ EMPS SOR
---
'86-1~-283 05-05 FL M="G CHALKBOARDS 8-10M 10-20 D
86-12-284 05-05 OH MFG PLASTICS UK 5-10 R
86-12-285 05-05 FL IMPORT/EXPORT UK UK 0
-87-01-286 05-05 NY WOMENS GLOVES 5M N/A R
_87-01-288 OS-OS MO FIBER GLASS REINFOR 300,000 N/A R
87-01-289 OS-OS MI ELECTRONICS N/A N/A M
87-01-290 05-05 MA EYE GLASS CASES N/A N/A M
-87-01-291 05-05 VA DISTRIBUTION 1 3M 4 D
- 87 -02-293 05-05 MA DATA CENTER 5lJOM 1000-1200 0
87-02-295 05-05 NY CAR MANUFACTURER N/A N/A M
_87-02-296 05-05 NY ELECTRONICS 200M 500 M
B7-02-297 OS-OS TX MEDICAL EQUIPMENT N/A N/A M
- 87-02-298 05-05 OH PRE-FAB HOUSES 1200 4 M
87-02-299 05-05 IL CONTRACT PACKAGERS N/A N/A M
87-02-301 05-05 MI CONSULTING FIRM N/A N/A F
-87-03-302 OS-OS MI INJECTION MOLDING 15M 35 0
-- 87-03-303 05-05 PHARMACEUTICAL 200M F
87-03-305 05-05 NJ FOOD PROCESSING R
-87-03-306 OS-OS FL PRINTING 25 ACRES 150-500 F
--97-03-307 05-05 NJ DATA PROCESSING 30M M
_87-03-308 05-05 NJ 30M M
87-03-309 05-05 CT TOOL DESIGN R
_87-03-310 05-05 MA BEARINGS 5-10M R
-87-03-311 05-05 NY FOOD DISTRIBUTION 30M R
-87-03-312 05-05 FL TRACTOR PARTS 10-12M 0
-87-03-313 05-05 IL ELECTRONICS 10-2m-1 M
87-03-314 05-05 ElECTRONIC COMMUNICATIONS M
B7-03-315 05-05 NY SPONGE MFG. M
B7-03-316 05-05 IN COMMJNICATIONS M
87-03-317 05-05 OH M
87-03-319 05-05 IL PAPER SUPPLIES MFG. F
-87-03-320 05-05 FL SPANISH ROOF TILES 40M 100 M
-87-03-322 05-05 NY GARMENT MFG 30M 50 0
--87-03-323 05-05 NJ HIGH TECH PRODUCTS 1 ACRE D
-B7-J4-324 05-05 NY AIRCRAFT PARTS 460 M
-87-04-325 05-05 NY AEROSPACE CONSTRUCTION 60 M
-87-04-326 05-05 NY MICROWAVE TEST EQUIPMENT 160 M
-87-04-327 05-05 CT THERMO COUPLES 75 M
_87 -04-328 05-05 CT RECTIFIERS 125 M
_87-04-329 05-05 CT TRACKING CONTROL PRODUCTS 75 M
_87-04-330 OS-OS CT SLIP RINGS 75 M
_87-04-331 05-05 CT AERO SPACE 700 M
_87-04-333 05-05 NJ PHARMACEUTICALS 270 M
87-03-334 05-05 VA HEALTH MGMT M
-87-04-335 05-05 NJ HEARIt\G AIDS 99 M
_87-03-336 05-05 NY FLEX SHAFTS 235 M
_87-03-337 OS-OS NY MED TECH 150 M
..87-05-338 05-05 FL CANDY 50-200 R
87-05-339 05-05 NJ MANUFACTURING R
_87-05-340 05-05 PA ELECTRONIC COMPONENTS 100 ACRES 2000 M
.. B7 -05-341 05-05 PA TESTERS & COUNTERS la-15M 115 M
... 87 -05-342 05-05 PA COATING PRODUCTS "0-80M 75 M
.. 87-05-343 05-05 FL DISTRIBUTION & WHOLESALE 50M F
--B7-05-346 05-05 NJ ELECTRONIC ASSEMBLY 100M 200 F
-87-06-347 05-05 FL HI-TECH SOLAR POWER SYSTEM 1M 10 R
PAGE NUMBER 3
I
.. ,
NUM STAT ST 'YPC:: OF INO NEED J EMPS s:~
---
07-06-348 05-05 FL MFG - CAMERA STRAPS 7M R
87-06-349 05-05 IN INTERCONNECT/ELCTRICITY M
87-06-350 05-05 NY MANUFACTURE BOXES M
87-06-351 05-05 IL AIR FILTERS/VALVES M
87-06-352 05-05 CA MARINE HARDWARE MFG M
87-06-353 05-05 MO U/K M
87-06-354 05-05 FL DEFENSE ELECTRONICS M
87-06-355 05-05 PA MEN I SWEAR M
87-06-356 05-05 IN DRILLS/MACHINE EQUIPMENT M
~87-06-358 05-05 FL COMMERCIAL R. E 30-40 M
-87-06-359 05-05 UT WOOD BURNING STOVES 180M ~
-87-06-361 05-05 MO UIK 17M M
.-87-06-362 05-05 MN 3M MANUFACllRERS 30M M
87-06-363 05-05 FL CHURCH M
87-06-364 05-05 NJ M
87-06-365 05-05 MD EXPERT SYSTEMS/AI M
"'87-06-366 05-05 KY LAB. TEST KITS 3-4M M
--87-06-367 05-05 FL MINI-COMPUTERS 20M 150-200 F
87-06-368 05-05 OH CONSULTANTS - FOR R & D 50 0
-87-06-369 05-05 MD COMPUTER SYSTEMS 5M 8-16 F
-87-06-370 05-05 CA LIQUID CHROMaTOGRAPHY 25M 25 0
"'87-07-372 05-05 NJ ASSEMBLE HEARING AID EQUIP.2M 10-15 R
87-07-373 05-05 LA MARINE SALES/SERVICE U/K U/K R
-87-07-374 05-05 NEWSPAPER CLIPPINGS 5M 20-60 F
87-07-375 05-05 OPTICAL LABORATORY U/K U/K R
--87-07-376 05-05 FL OPTICAL LENSES 50 M
87-07-377 05-05 FL CONCRETE COMPANY M
-87-07-378 05-05 CT MECHANICAL PRINTING 50-60 M
--B7-07-379 05-05 MA SURGICAL STEEL BLADES 75-100M M
87-07-380 05-05 CA LAB COMPONENTS ~1
87-07-381 05-05 MN MAGAZINE PUBLISHER M
87-07-382 05-05 CA ELECTRON ICS-MFG M
87-07-383 05-05 CA R << 0 M
-87-07-3B4 05-05 GA MFG BLOOD BANK TEST KITS 100 M
-.a7-07-385 05-05 NJ LIQUID LAVEL CONTROLS 22 M
87-07-386 05-05 GA MEN I SWEAR M
-87-07-387 05-05 MN COMPUTER SOFTWARE 30-50M M
87-07-388 05-05 PA ELECTRONIC COMPONENTS M
84-05-107 05-04 ME INSURANCE 3-4 ACRES 150 0
84-08-115 04-04 I~ ALUMINUM CASTING 15-25M LITE MAN 30 0
84-09-119 04-04 IL CONTAINER STAPLES 15M LITE MAN 30 0
84-12-129 04-04 PA INTEGRATED CIRCUITS 20M EXPANDABLE 90 0
85-04-144 04-04 NY RUBBER PRODUCTS 60M LT. MAN. UK 0
85-05-145 04-04 FL FIBERGLASS AUTOS 2-3 ACRES 40 D
85-05-148 04-04 WG U/K FDOC U/K F
B5-05-149 04-04 ELECTRONICS FDOC UK F
85-10-164 04-04 NY U/K UK U/K 0
86-02-175 04-04 NY INSURANCE 0
86-06-216 05-04 CLASS C ROCKETS 20M MAN UK F
86-05-233 06-04 PU PACKAGING MACHINES 15M MAN 50 F
86-09-240 04-04 NY elECTRONICS ASSEMBLY UK UK 0
86-10-243 04-04 FL OIL RECOVERY FACILITY 0
86-10-245 04-04 F'L PRINTING 12-20M 50-100 0
86-10-264 04-04 NJ CONSULTING ENGINEERS 0
86-11-269 06-04 FL BOAT BUILDING U/K U/K 0
PAGE NUMBER 4
"
,.
MASTER SITE
!
D~VELOPMENT PLAN
.
.
QUANTUM' PARK ~T BOYNTON BEACH P_I_D_
. JULY 7, 1986
Prepared by
QUANTUM ASSOCIATES
In Consultation with:
~.
RICHARD L BOWEN & ASSOCIATES, Planners and Engineers
THE ROY BARDEN PLANNING GROUP, Landscape Architect
ROSSI & MALAVASI ENGINEERS, INC , Civil Group
KI~~EY-HORN AND ASSOCIATES, INC , Traffic Engineers
GCODKIN RESEARCH CORRORATION. Economic & Marketing Analysis
COGNETICS. ~C , Marketing
.
\,
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MASTER SITE DEVELOPMENT PLAN
Quantum Associates is pleased to submit herewith the proposed Master Site
Development Plan. It is consistent with the Amended Plan filed with the City
of Boynton Beach on January 21, '986, approved by Ordinance 86-11, passed
June 3. 1986.
Following are two excerpts from the original ADA. pages 20-2 and 20-19
respectively. that ~ddress the incorporation of distribution as a light
industrial use. within quantum Park at Boynton Beac!').
A..)
Goodkln Research's analysis of the supply and demand
~eterminants for warehouse and Industrial space In Palm
Beach County Indicated that these uses constitute
significant real estate demand (investment) opportunities
at the s~te. The demand for warehouse space is strong. and
althoug~ ~everal new industrial parks are competing in the
mark~tplace the ~ubject property offers a close-In and
highly visible location.
.
The relatively rapid growth of the population within the
park's Primary Market Area has resulted in the construction
and planning of a significant supply of new Shopping center
space. This. in turn, increases the demand for wholesale
and distribution space in the area, in order to meet the
needs of the expanding retail ~ase. Many of these
distributors. (e.g.. food warehouses. appliance
distributors. department- store warehouses, general
warehous~s) require rail, and can therefore be
strategically located within the sUbject property. The
high volume traffic generated by these tenants makes the
use of trucks, as their major means of transportation.
uneconomtcal. Interviews with Seaboard Coastline Railroad
indicated that these types of distributors are relatively
large and occupy, on average, 50,000 to 100.000 square
feet, with the most popular buildings containing about
60,000 to 70,000 square feet.
B) The tenant mix will be quite varied gepending upon eventual
demand and as such is difficult to estimate. However,
Goodkin Research suggests that the following tenant mix is
reasonable and attainable:
Office Warehouse/Distribution
Micro-electronic telecommunications equipment.
2 Medical electronics (e g , electronic health
monitoring systems).
3. Process control technology
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Electronic surveillance systems and other electronic
components.
Computer systems.
Engineering, research and design.
Pharmaceutical/medical products, and
!
Shippers, distributors, wholesale suppliers,
operations centers. liqht manufacturinq and
assembl inq.
. .
The proposed plan redistributes the land uses of the former approved plan In
order ta accommodate the layout of a proposed distribution user that requires
a large parcel ~.tth rail access. In so doing, the commercial parcels were
arrangedalon~ S frontage. road, consistent with the desires of the City's
PI ann i ng Department. ...
Dia~.A. Indicates the area of the plan that has undergone reconfiguratton.
As shown. these reconfiguratjons have occurred only in the very center of the
park, and within the southern loop roadway. Outside of this area minor use
variations tIndustrial land changed to R & D, etc.), without change in parcel
configuration, have occurred in order to maintain a nearly Identical land use
dts_tr:ibution. DIagram "B" Illustrates the proposed plan while DIagram "e"
Illustrates the approved Amended Haster Site Development Plan.
Table Number I has been excepted from the previous Amended Haster Plan
submittal. The third column has been added to illustrate the comparative
diffel;;~ between our currently proposed plan and the approved plan.
Economic-Analysis
Included herein is a copy of a Hemorandum from R. Thomas Powers of Goodkin
Researc~ In it he restates the fact that distribution uses had always been
contemplated as a use within the light industrial areas of the Park.
Traffr-c- Ana I YS i s
Also included herein is a copy of the traffic analysis and amendment. prepared
by Jim Zook of Kimley-Horn. It identifies the consideration of distribution
use in determining traffic generation for the original ADA-DR I and subsequent
updates.
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MASTER SITE DEVELOPMENT PLAN
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GOODKIN RESEARCH CORPORATION - Advisors to The Real Estate and Financial lndusfries
MEMORANDUM
To:
Mr. Ed Deutsch
Prom:.
R. Thomas Powers
;
Subject:
Date:
,. _.
Quantum' Park At Boynton Beach
.
July 3, 1986
.
.
lh 1984, toe Goodkln Research Corporation completed the original economic
analysis ior- w)lat was then "known as the Boynton Beach Park of Commerce. The park
at that timE! was in its planning infancy The analysis completed then was likewise
based on a conceptual plan and the resulting economic analysis and forecasts were
heavily- couched in Palm Beach countywide averages for employees per square foot,
construetion costs, wage and salary levels, and the like.
In ~985, the park was purchased by Quantum Associates and was renamed
Quantum Park At Boynton Beach Today the park is more than a concept; "liven
tenants-are negotiating for "real" space. The development of what is South Florida's
most advantageously located, high quality business park is a reality.
C-oodkin Rese~ch was recently retained to take another, more qualitative, look
at tire Quantum Business Park and the way it was initially beginning to build its tenant
base. Some concern has been expressed about the impact that the first tenant, Publh:,
would have on the overall employment forecast completed in the original DRI. Several
points should be stressed along these lines:
1) The original DRI applied countywide employee-per-square foot averages to
the then proposed land uses. These forecasts then became baselines used
to evaluate the economic impact of the park at build out. Like any forecast
based on averages, the mid-term results are likely to deviate some through
build~ut as averages become reality. To hold those forecasts as rigid
"law" at every point during build-out does not account for what must be a
reasonably flexible development plan in an ever changing market.
2) Distribution functions were always seen as an integral use within the park.
The original market analysis and the DRI recognize distribution functions
as a natural for a park located contiguous to major north-south rail and
rubber tire transport arteries (not to mention the major West Palm Beach
Airport).
/
Gocx::!kin Building. 275 Commercial Bou!eva~d. LCc.derda!e.by-lne-Seo. Florida 333(;3 (3J5) ':~3-5Jtl. Miami 940-6006
(
GOODKIN RESEARCH CORPORATION
Memorandum to Mr Ed Deutsch
July 3, 1986
Page 2
It is no surprise to Goodkin Research that a major quality, highly visible tenant
like Publi..'< chose to make its home here. And the fact that they are the flagship
tenant suggests that the quality of the park at buildout will be even higher than
originally foreseen. fThis is because quality tends to b1"f:ea quality; high quaUt"J tenants
tend to cluster.
r
.
Distribution/ by its very nature, employs fewer employees-per-square foot than
do some of the more t1intensive-uselJ industrial tenants detailed in the original DRI -
~lectronics, medical, engineering/planning and the like. Simply put, the distribution
function was part of the original employment forecast. And because it is the first
tenant,.. as opposed to the tenth, for example, is not cause to worry that the original
employment far:ecasts cannot be achieved.
,J
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r0LE'(;, 17r:;-~\Vl ~U7I."'-"= t1
L \.i L! L ulli.=' U a!..!L l.'!."L! Li u ! J
//
rlfimrey-r.;crn and AssociZltes, Inc. 4431 Embarcadero Drive, West Palm Beach, FL 33407. (305)845-0665 '\
West Palm Beach. Tampa. Orlando. Fl Lauderdale. Moami. Palm 0:1.
Flalelgh. Durham. Chari aile. NashvIlle. 0011105. Austm, Phoenllc
July 3, 1986
4479 06(07)fT021-49
l\lr George Zimmerman
Deutsch Ire!and Properties
Suite 1106, International Building
2455 East Sunrise Boulevard
Fort Lauderdale, Florida 33304
Re: -Boynton Beach 1>ark of
Commerce (Quantum)
Traffic Analysis-Update
Dear 1\h-. Zir::merJ1lan:
As requested by you, we have updated the traffic analysis for the above reIerenced
project to reflect the most recent site plan changes (plan dated June 23, 1986) these
changes refiect an internal road\vay' network change south of NW 22nd Avenue. Our
review also included the specific use for a 55 0 acr~ industrial parcel
(Warehouse/Distribution Center) also south NW 22nd Avenue
The tr-aific generated by the updated site plan was assigned to the revised roadway
system (No change in traffic distribution would result from the plan revisions). the
external impacts had no change but the intersections along NW 22nd Avenue within
the project will have some minor lane use changes. The peak hour traffic volumes and
the interso--etion needs for the revised network are depicted on the attached sketch.
Also enclosed with this letter are the critical path capacity analysis computer printouts
showing the level of service at each intersection
Reg~ "':il.g the warehouse/distribution center, it should be noted that this is a
use assumec .within the industrial category reflected by the ITE traffic generation rates_
Therefore the use was already considered by the traffic studies and updates which have
been completed, including this update_ .
Enclcsed under separate cover is an appendix to this letter report containing traffic
assignment update work sheets. Please let us know if you or the City of Boynton Beach
has a question regarding this report
Very truly yours,
JRZ/nan
Attachments
K ~lLEY-HORN AND ASSOCIATES, INC.
~ /0A~~5 ~, ~/L.
James R. Zook, P E. J
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EXHIBIT "e"
GCOCJ<..iN rESE"'RC~ CORFOR.....TION - Aovlsors 10 The Real Eslo'e ord FIf':cr.c ollncuslries
MEMORANDUM
To
iVlr Ed Deutsch
From:
R. Thomas Powers
Subject:
Quantum Park At Boynton Beach
Date
July 3, 1986
In 1984, the Goodkin Research Corporation completed the original economic
analysis for what was then known as the Boynton Beach Park. of Commerce The park
at that time was in its planning infancy The analysis completed then was likewise
based on a conceptual plan and the resulting economic analysis and forecasts were
heavily couched in Palm Beach countywide averages for employees per square foot,
construction costs, wage and salary levels, and the like
In 1985, the park was purchased by Quantum Associates and was renamed
Quantum Park At Boynton Beach Today the park is more than a concept; "live"
tenants are negotiating for "real" space The development of what is South Florida's
most advantageously located, high quality business park is a reality
Goodkin Research was recently IJeta,ined to take another, more qualitative, look
at the Quantum Business Park and the way it was initially beginning to build its tenant
base Some concern has been expressed about the impact that the first tenant, Publix,
would have on the overall employment forecast completed in the original DRI. Several
points should be stressed along these lines
1) The original DR! applied countywide employee-per-square foot averages to
the then proposed land uses These forecasts then became baselines used
to evaluate the economic impact of the park at buildout. Like any forecast
based on averages, the mid-term results are likely to deviate some through
build-out as averages become reality To hold those forecasts as rigid
"law" at every point during build-out does not account for what must be a
reasonably flexible development plan in an ever changing market
2) Distribution functions were always seen as an integral use within the park.
The Original market analysis and the DRI recognize distribution functions
as a natural for a park located contiguous to major north-south rail and
rubber tire transport arteries (not to mention the major \\ est Palm Beach
Air;Jort)
Gc.cc,t:;) c\j..::;:,.....;; 275 Ccxrnerc:ci 3.::.. -;?',,"C;.#C LC....:::2.C..:; e 0',' ;re _,9::;' rj......~c:J 332:3 2::.)....';'-'::.. C~I 940-6006
.. ~
E:-'HIBIT "e"
GOOCKIN RESEARCH CORPORATION
l\lemorandum to ;.lr Ed Deutsch
July 3, 1986
Page 2
It is no surprise to Goodkin Research that a major quality, highly visible tenant
like PublLx chose to make its home here And the fact that they are the flagship
tenant suggests that the quality of the park at buildout will be even higher than
originally foreseen. This is because quality tends to breed quality, high quality tenants
tend to cluster
Distribution, by its very nature, employs fewer employees-per-square foot than
do some of the more "intensive-use" industrial tenants detailed in the original DRI -
electronics, medical, engineering/planning and the like Simply put, the distribution
function was part of the original employment forecast And because it is the first
tenant, as opposed to the tenth, for example, is not cause to worry that the original
employment forecasts cannot be achieved
RTP/lct
It
;c~
... :::....t
EXHIBIT "0"
/7= n -~U-' l
-~-' a~.:-'_ '~,~~
I ,,/ c--"~. r-: tJ 1 IJ I
L-. ;......... '-- ~ ........ ........ ~ __ ~ '-- '--'........ L..o
\.1 /
r &fimley-liorn and Assoc:;:JiesJ Inc. ~431 Embarc3dero Drive. West Palm Beach FL 33407 - (305)845-0665 .....,
, West p~lm Bench T ~moa. Crlnneo Ft Lauderda!e. MIamI P~lm CAy. I
Ralclgh, Durr.am. Cr.<:H1o~e. N.3Snvl-:e. O.1~'as. Austin. Proem.
t Julv 3, 1986
I 4479 06(07)/1'0:21-49
I
,
.>
l\lr George Zimmerman
Deutsch Ireland Properties
Suite II 06 International Building
2455 East Sunrise Boulevard
Fort Lauderdale, Florida 33304
Re Boynton Beach Park of
Commerce (Quantum)
Traffic Analysis Update
Dear ;\lr Zimmerman
As requested by you, we have updated the traffic analvsis for the above referenced
project to reflect the most recent site plan changes (plan dated June 23, 1986) these
changes reflect an internal roadwav network change south of NW 22nd Avenue Our
review also included the specific use for a 55 0 acre industrial parcel
(Warehouse/Distribution Center) also south NW 22nd Avenue
The traffic generated by the updated site plan was assigned to the revised roadway
system (No change in traffic distribution would result from the plan revisions) the
external impacts had no change but the,. intersectiops along NW 22nd Avenue within
the project will have some minor lane use changes The peak hour traffic volumes and
the intersection needs for the revised network are depicted on the attached sketch.
Also enclosed with this letter are the critical path capacity analysis computer printouts
showing the level of service at each intersection
Regarding the warehouse/distribution center, it should be noted that this is a
use assumed within the industrial category reflected bv the ITE traffic generation rates.
Therefore the use was already considered by the traffic studies and updates which have
been completed, including this update
Enclosed under separate cover IS an appendix to this letter report containIng traffic
assignment update worl.. sheets Please let us know if )ou or the City of Bo)nton Beach
has a question regarding this report
V CI'y trul) yours,
JRZ/nan
Attachments
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EXHIBIT "B"
080886-1
0558P
SPECIFIC AMENDMENT TO DEVELOPMENT ORDER
1. That the name of the development: be changed to Quantum
Park At Boynton Beach.
lr
2. That the. Amended Master Site Development Plan (-Amended
Master Site Development Plan-), attached hereto as Exhibit -B- and
.
.
made a part he~eof, submitted by Applicant in its application for
Amendaent to.the Development Order replace and supercede the
Master Sit&'DeVelopment Plan currently approved in the Development
Order
;.
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3. That Section 4( 1) be amended by adding the following
subp~ r:rgraph (d),:,
(d) Quantum Park At Boynton Beach ADA Amended
Master Site Development Plan submitted July 9,
1986.
4. That references throughout the Development Order be
revise~ to conform to the Amended Master Site Development Plan.
5. That references throughout the Development Order be
revised, where applicable, to conform to the Memorandum from
R. Tcomas Powers (Goodkin Research Corporation) to Ed Deutsch
under date of July 3, 1986, a copy of which is attached hereto as
Exhibit
nCn,
and the Traffic Analysis Update prepared by
Kimley-Horn and Associates, Inc. under date of July 3, 1986, a
copy of which is attached hereto as Exhibit "D".
I
,