A $1 Billion Mixed-Use District Is Rising in Davie. Central Broward's Industrial Owners Should Take Note

El-Ad National Properties has renamed its $1 billion development at 4820 Park Way in Davie The Plaza Davie District, and the first of its five residential towers has topped out, with Phase One expected to be complete in early 2027. At full buildout, the 2.8 million-square-foot project will include towers of 21 to 24 stories with about 1,292 rental apartments, 36,000 square feet of restaurant and retail space and roughly 2,650 parking spaces. Traded reported the milestone in September.

Density comes to central Broward

The first 22-story tower will deliver 288 apartments along with the project’s entry promenade and service roads. Cooper Carry is the architect and Promethean Builders the general contractor. A project of this size changes a suburban area. Thousands of new residents bring demand for restaurants, retail, medical services and everyday businesses, and they put more cars and delivery vans on roads that were built for lower density.

The industrial side of the story

Central Broward’s industrial market has been working through a supply wave of its own. Cushman & Wakefield’s second-quarter figures show the Davie, Plantation and Sunrise submarket at 11.8% vacancy and Southwest Broward at 7.4%, both above the countywide 5.4%, reflecting large new buildings still leasing up. Population growth like this is part of what fills them over time. Service companies, suppliers and last-mile delivery operators want to be close to dense new neighborhoods, and they need small and mid-size industrial space within a short drive.

Growth also tightens land. As corridors near I-595 and University Drive fill with residential and mixed-use projects, the remaining industrial parcels in central Broward become harder to replace.

What this means for you

If you own industrial or flex space in Davie, Plantation, Sunrise or Southwest Broward, current vacancy gives tenants choices, but the population arriving over the next few years supports demand. Compete on condition and terms now, and plan for firmer rents later. If you are a tenant, today’s availability in central Broward is an opportunity to lock in space and terms. If you are an investor, buying into a submarket with temporary vacancy and long-term growth can be rewarding with the right building.

AXCESS Commercial works with owners and tenants across Broward, leasing space, listing properties for sale and managing industrial buildings.

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