Major Retailer Commits To Newly Built Medley Distribution Facility
Walmart has signed a long-term lease for a newly constructed warehouse in Medley, according to public records.
The retailer is expected to occupy the entire 130,150-square-foot facility at 10900 NW 138th Street. The property, owned by Seagis Property Group, is positioned along West Okeechobee Road near the Florida Turnpike.
The agreement has an initial term of 16 years and includes three options that could extend Walmart’s occupancy by an additional five years each.
Completed earlier this year, the 40-foot-tall warehouse features 46 dock-high loading doors and two drive-in doors. Seagis developed the project on a 13.2-acre parcel it acquired for $17.5 million in 2022.
The Medley transaction expands Walmart’s recent South Florida real estate activity. The Arkansas-based retailer also purchased 24 acres in Palm Beach County for $11.7 million this month, with plans for a new superstore. In addition, Walmart renewed an 83,342-square-foot industrial lease in Pompano Beach late last year.
Walmart declined to comment on the Medley lease, while a representative for Seagis did not respond to the original publication’s request for additional information.
Key Facts
- Tenant: Walmart
- Landlord: Seagis Property Group
- Property: 10900 NW 138th Street, Medley
- Building size: 130,150 square feet
- Lease term: 16 years, plus three five-year extension options
- Site size: 13.2 acres
- Property features: 40-foot height, 46 dock-high doors and two drive-in doors
Source: Commercial Observer
