Paper And Packaging Company Inks 280,000 SF Deal
Perez Trading has signed a 280,000-square-foot industrial lease at Prologis Gratigny Industrial Park in unincorporated Miami-Dade County.
The deal brings the park, located at 3380 NW 114th Street, to 100 percent occupied.
Cushman Director Audley Bosch and Industrial Broker Services Executive Director Brian Smith represented park owner Prologis in the transaction. Perez was represented by Jones Lang LaSalle Managing Director Steve Medwin and Vice President Nick Wigoda.
The paper and packaging company is set to immediately occupy the bulk distribution warehouse space, which is close to the company’s corporate headquarters at 3490 NW 125th St. The facility gives the company rail access through CSX Railways, which is pivotal for its daily operations, according to the announcement.
On a broader scale, the recent lease adds to a growing number of successful transactions for Smith and Bosch who, so far this year, have completed 1.2 million square feet in industrial deals — valued at more than $46 million — on behalf of both landlords and tenants, involving such notable entities as Crowley Logistics, Victoria’s Secret and KTR Capital Partners.
Additional transactions for Smith and Bosch since January chronologically include:
- Crowley Logistics for a 37,000 square foot lease expansion at Flagler Development in Medley, 11401 NW 100 Road, on behalf of the tenant.
- Prologis for a 65,000 square foot sale to Jet Aviation Specialists, Inc. at 3200 NW 107th Street in Miami, on behalf of the seller.
- Logitech Industries for a 56,000 square foot lease at 3300 NW 110th Street in Miami, on behalf of the Landlord.
- Falcon Distribution for a 33,500 square foot new lease at Prologis Gratigny Industrial Park, 3435 NW 112 Street in Miami, on behalf of the landlord.
- FDF Investments, Inc. for a 25,000 square foot sale to Belmont International at 7553 NW 50 Street in Miami, on behalf of the seller.
- KTR Capital Partners for a 29,374 square foot lease to Wencor at 2000 NW 97 Avenue in Miami, on behalf of the landlord.
- Prologis for a lease to Valley Crest at 8187 NW 84 Street in Miami, on behalf of the landlord.
- PAS Cargo USA for an 85,344 square foot lease to Seagis Property Group LP at 2900 NW 112 Avenue in Miami, on behalf of the tenant.
- KTR Capital Partners for a 16,800 square foot lease to Victoria’s Secret at 2100 NW 97 Avenue in Miami, on behalf of the landlord.
“The amount of activity we are seeing in the Miami market is compelling” said Smith, who was named by NAIOP as the 2011 Landlord Representative Industrial Broker of the Year.
“We are noting an increase in rental rates and a rise in occupancy levels, signaling a healthy resurgence in South Florida’s industrial sector,” added Bosch.
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