State Street Realty, a Miami-based brokerage and advisory firm, had a very active August and September, closing over 489,000 square feet of office and industrial sale and lease transactions valued over $28,000,000.
State Street Realty President George Pino, SIOR, RPA, Senior Vice President Ed Lyden and Senior Associate Jesus Cortes working on behalf of Landlord’s Prologis and various other clients completed the transactions together in the past 60 days.
According to Pino, “The high level of activity is indicative of a tightening industrial market. We expect to continue to see national and international investors seeking opportunities to acquire and build industrial properties in the region as the demand continues to exceed the available supply. Expansion of the Panama Canal and infrastructure improvement projects at the Port of Miami and Miami International Airport will be the prime drivers of growth in this market. The Port of Miami plans on having all the infrastructure upgrades completed by Q2 2015, in sync with the completion of the Panama Canal.”
Noteworthy deals that State Street Realty closed in August and September 2013 include:
- RCS Logistics, Inc. renewed its lease for 31,975 square feet of industrial warehouse space at Prologis Beacon Centre.
- American Crane and Tractor Parts leased 32,844 square feet of industrial warehouse space at Prologis Beacon Lakes Industrial Park. Steve Digiacomo, SIOR of Digiacomo Group represented the Tenant.
- EWE Land II LTD purchased 2.2 acres of industrial land in Medley. Jesus Cortes, Ed Lyden and George Pino, SIOR represented the Seller, Cardinal Commercial Development, LLC and Lee Katsikos, SIOR of The Katsikos Group represented the Buyer.
- Genco 1, Inc. leased 46,888 square feet of industrial warehouse space at Prologis Beacon Lakes Industrial Park. George Pino, SIOR and Ed Lyden of State Street Realty represented the Landlord, Prologis. Brian Zurawski, SIOR of Summit Realty Group represented the Tenant.
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