Duke Realty Inks Its Largest South Florida Lease Deal
The company announced the start of the 501,224-square-foot speculative development at 10300 NW 121st Way in Medley in May 2021. The building is now 100 percent leased.
The company announced the start of the 501,224-square-foot speculative development at 10300 NW 121st Way in Medley in May 2021. The building is now 100 percent leased.
The final sale price was $22 million, equating to $155 per square foot.
The property was listed at $4,950,000 and within days, multiple full price offers were received – some over list price. The property closed within 0.5% of list price and a sub 5% capitalization rate.
The Miami space serves as the firm’s second office location.
This marks the fourth time winning this prestigious honor from NAIOP’s South Florida Chapter in the past six years.
Here are the most popular news headlines this past week on CRE-sources.
As Miami Beach continues to experience business migration and the return of international visitors, the Lincoln Road District reports drawing over 7.8 million visits over the past year, demonstrating a strong post-pandemic recovery in foot traffic.
Marcus & Millichap will be joining OpenStore and Veru as the first three tenants in The Gateway at Wynwood.
Matt McAllister, Chris Metzger, Rick Etner, and Christopher Thomson represented building owner Black Creek Group in the lease of the ±25,300-square-foot warehouse and distribution center.
Edge 22 is composed of a single land parcel spanning 1.64 Acres and is zoned T6-36A-O and falls within a federally designated opportunity zone.
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