DCT Industrial Trust, a leading industrial real estate company, held a recent groundbreaking ceremony on the first of two buildings located in the DCT Commerce Center at Pan American West Industrial Park in Miami, Florida. CBRE is the exclusive leasing advisor for the development located in Miami’s top-performing submarket, Airport/Doral.
More than 70 industry professionals attended the groundbreaking event. From DCT Industrial, Regional Vice President Todd Watson, Vice President Mark Erler and Managing Director, East Region, Michael Ruen shared specifics on the new development and discussed intentions to expand their industrial portfolio in the Miami market.
Willy Fernandez, President with Link Construction, updated the attendees on the construction timeline. The site is pad-ready and the slab will be poured within the next week. The project delivery date is set for fourth quarter 2012.
CBRE Senior Vice President David Albert and Vice President Devin White who lead the marketing for the new development, conveyed to the brokerage community the leasing opportunities that will be available at the new project. Brokers will have another opportunity to become acquainted with the development on the upcoming NAIOP Bus Tour on May 5.
Phase I of the development is a 167,000-square-foot, Class A rear-load distribution building. Phase II is for an equal sized building parallel to the first.
DCT Commerce Center at Pan American West is positioned along NW 17th Street in Miami between NW 135th Avenue and NW 133rd Avenue. The Airport/Doral submarket is among Miami’s top-performing industrial submarkets and accounted for more than 45% of the total 1.3
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