Seaboard Marine Signs 267,400 SF Industrial Lease Renewal, 64,000 SF Expansion

seaboard marine, medleySeaboard Marine has signed a 267,400-square-foot industrial lease renewal including a 64,000-square-foot expansion at Prologis Palmetto Tradeport in Medley, Florida. The record-setting transaction, which becomes the largest industrial lease by square foot signed since 2012, is in place for 10 years.
Seaboard Marine is PortMiami’s largest and most active cargo operator and freight transportation company, serving over 40 ports in 25 countries from its facilities at 8001 NW 79th Ave. in Medley and at PortMiami.
Jones Lang LaSalle’s Senior Vice President Jonathan Kingsley represented Seaboard Marine, while Brian Smith, Executive Director of Cushman & Wakefield, represented the landlord, Prologis, which owns and manages more than 11 million square feet of industrial space in South Florida. With this deal, the landlord and tenant teams secured a renewal and expansion of Seaboard Marine’s operational facilities, property upgrades and roadway and sidewalk improvements to the property’s surrounding area with the local government.
“Following a long-standing relationship with the landlord, we worked closely with Seaboard Marine and Prologis to strike a deal that would meet Seaboard’s near- and long-term expansion requirements and operational needs,” said JLL’s Jonathan Kingsley. “This transaction ensures Seaboard’s continued presence in Medley, while creating positive absorption of leasable space for Miami-Dade’s industrial market.”
Seaboard Marine has occupied approximately 200,000 square feet of industrial space in the Medley market for more than 20 years and the company employs nearly 600 in its Medley and PortMiami facilities combined.
“This renewal and expansion within Prologis Palmetto Tradeport will allow Seaboard the flexibility to continue growing their business and enhance their operations with additional trailer parking and greater rail connectivity,” said Peter Crovo, vice president and market officer at Prologis South Florida. “This is a significant deal not only for the Medley market but for Miami, as Seaboard’s cargo and freight activity represents a significant contribution to Miami’s thriving business community.”



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