Blue Line Distribution began their search over 12 months ago to relocate from their existing 16,000-square-foot space in hopes of finding a location in Miami with major roadway access, offering trailer storage space, and capable of accommodating 1 dock per 1,500 square feet.
“Blue Line’s requirements were very specific, particularly the above standard door count,” said Andrew Lehrer, an industrial specialist with CBRE in Miami. “As a result, there were no active listings matching their specifications.”
With Miami’s overall vacancy rate at just 6.2% as of second quarter 2012, tenants have a limited number of options to choose from when searching to fulfill new space requirements.
“Timing was everything for this deal to come together”, said Lehrer. CBRE was in the process of engaging AAA Cooper to market their 16,198-square-foot terminal at 10500 NW S River Drive in Medley, Florida, at the same time Blue Line expressed that they had yet to find a suitable relocation site.
The AAA Cooper building in Medley had 43 cross-dock doors, offered trailer storage space and was located within the same submarket as Blue Line’s existing location.
“CBRE secured Blue Line Distribution in the AAA Cooper building without having to formally bring the property to market. It was a unique match-up to fit Blue Line’s requirements so precisely. Knowing the market inside and out was key to facilitating this lease transaction,” said Lehrer.
Lehrer is an Associate with CBRE and was joined by Senior Vice President David Albert and Vice President Devin White in representing AAA Cooper in the lease negotiation.
Get the latest industry news and information from CRE-sources delivered right to your email inbox! And we promise…no more than one email each morning.
And we promise…no more than one email each morning.