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Sonny’s Enterprises Inks 48K-SF HQ in Florida’s Broward County

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As South Florida experiences a shortage of warehouses, some tenants are getting creative to maximize their industrial footprint. Sonny’s Enterprises is relocating its headquarters in Tamarac, Fla., moving from warehouse to office space.

Sonny’s, which produces equipment for conveyorized car washes, signed a 10-year lease to occupy a 47,851-square-foot building at 5870 Hiatus Road, inside the Westpoint Business Center office complex, according to Avison Young’s Tom Viscount, who represented the tenant.

The company isn’t going far, just moving across the street from warehouse space it currently uses for its offices. The manufacturer currently occupies 350,000 square feet across four buildings at the Westpoint Distribution Center, per the Avison Young broker. 

The firm is expected to move into its new headquarters within the “next few months” after it completes the build-out. The two-story office building was vacant for over a year, ColliersJarred Goodstein, who represented the landlord, told Commercial Observer. Public records show the property’s owner to be an entity tied to individual investors George and Richard Brock

The office deal represents an expansion for Sonny’s, the two brokers said, with Viscount adding that the company is growing. Neither divulged the square footage of the previous office.

South Florida’s industrial market is booming, having experienced its strongest quarter ever recorded, according to a recent industrial report from Newmark. The region’s vacancy rate stood at a whopping 4 percent in 2021’s third quarter. Over 3.5 million square feet was absorbed during the same period, up from the 2.9 million square feet the prior quarter and 823,497 square feet a year ago.  

Julia Echikson can be reached at jechikson@commercialobserver.com.

Original Source: commercialobserver.com

Finance

Moroccan B2B ECommerce Platform Chari Nets Funding on $100M Valuation

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Morocco-based B2B eCommerce and FinTech startup Chari could see a valuation of $100 million after a new bridge round of funding, TechCrunch reported Thursday (Jan. 20).

Chari functions as a mobile app, allowing traditional proximity store owners in Morocco to order products and have them delivered.

The company is trying to get more into the FinTech space after closing a bridge round which was led by the Saudi Arabia-based venture capital fund Khwarizmi Ventures, AirAngels (Airbnb Alumni Investors) and Afri Mobility, the venture capital arm of AKWA Group.

“Chari will use the money from this bridge round to test the BNPL services with its existing customers,” said Ismael Belkhayat, Chari’s CEO. “Upon successful results, Chari will acquire a local credit company to enable shop owners to lend money to their end users and further grow their business.”

Chari works with over half of the proximity stores in Casablanca, and has expanded into Tunisia. Last August, the company also acquired Karny, a mobile credit book application.

The Karny acquisition gave Chari more data on the loans given by grocery stores to customers, letting it credit assess unbanked shop owners and determine the best payment terms.

Chari was also a participant in the startup investor and incubator Y Combinator S21 batch and raised $5 million in late 2021. PYMNTS writes that Karny’s services help convenience stores use smartphones to manage credit arrangements with customers.

See also: Morocco’s eCommerce Startup Chari.ma Acquires Mobile Credit Book App

The company has around 15,000 convenience store customers. According to Y Combinator’s website, Chari “is an eCommerce and FinTech app for traditional retailers in North Africa allowing them to order any consumer goods they sell and get delivered for free in less than 24 hours.”

Chari also works as a financial services provider for retailers, offering micro-credit facilities.

PYMNTS also reported on Chari’s fundraising last year, writing that it could help the company expand into French-speaking Africa.

Related: Moroccan B2B eCommerce Firm Chari Raises $5M 

Article: pymnts.com

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Hudson Swafford Breaks From Pack Late to Win the American Express

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Hudson Swafford went eagle-birdie at the 16th and 17th holes to cap a busy final round and win The American Express on Sunday in La Quinta, Calif.

Swafford’s eagle, nine birdies and three bogeys added up to an 8-under 64 that catapulted him to victory after starting the day three strokes off theleaders. At 23-under 265, Swafford beat Tom Hoge (68 Sunday) by two shots.

Brian Harman also shot a 64 earlier in the day to se

Original Post: bignewsnetwork.com

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Is Putin Following in Steps of Peter the Great

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Three hundred and forty kilometers east of the Ukrainian capital, Kyiv, lies the city of Poltava.

At its heart is a semi-circular square with a cast-iron column and nearly two dozen eighteenth-century Swedish cannons captured in the 1709 Battle of Poltava, a decisive encounter in the Great Northern War, waged between Russia’s Peter the Great and Sweden’s Charles XII for supremacy in eastern Europe.

Russia’s

Original Post: bignewsnetwork.com

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