Duke Realty Starts 500K SF Spec Development In Miami
The planned project is the second of two distribution facilities in Duke Realty’s Miami 27 Business Park in Medley.
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The planned project is the second of two distribution facilities in Duke Realty’s Miami 27 Business Park in Medley.
The property was sold to an affiliate of Banyan Street Capital.
In his new position, he is responsible for industrial acquisitions throughout the southeastern U.S. and will oversee leasing and marketing for Sunbeam’s existing South Florida portfolio, including the Miramar Park of Commerce.
The property consists of a 9-story office tower, a 2-story medical office building and a development pad.
The transactions include two retail and office buildings in South Miami.
The lease deals are an indication that the South Florida retail market is bouncing back faster than expected from the dark days of the pandemic, according to the landlord.
The newly proposed mixed-use lifestyle project spans 31 acres.
Les Byron of Sperry Van Ness represented the tenant.
The four-story buildings total 498,073 square feet.
Colliers South Florida’s Jonathan Kingsley and Jarred Goodstein represented the landlord and tenant in the transaction.
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