State Street Realty Brings Prologis ICP To 100% Occupancy With More Than 100,000 SF Of November Leases

State Street Realty brokerage firm has brought the Prologis International Corporate Park, which consists of 350,000 square feet, to full 100% occupancy with the closing of over 100,000 square feet in deals so far in November 2013.
Prologis International Corporate Park is a Class “A” Industrial Business Park centrally located in the heart of the Miami Airport West submarket within minutes of the MIA cargo area, Port of Miami and all major roadways.
State Street Realty President George Pino, SIOR, RPA, Senior Vice President Ed Lyden and Senior Associate Jesus Cortes, working on behalf of Landlord Prologis completed over 100,000 square feet of transactions at Prologis ICP (10400 NW 19 Street, Doral,) in November 2013.
“Our long history with the Prologis property and our proficient knowledge of the Miami Airport industrial market place were instrumental in finalizing these transactions.  By understanding exactly what these customers’ needs are along with sharing our clients resolve to meet the tenant’s needs allowed us to negotiate deals that were a win/win for both the landlord and tenants,” Mr. Pino said.
“With current market vacancy rates for Class-A product in the Miami Airport West submarket under 50,000 square feet at less than 2 percent, we decided to multi-tenant this building at Prologis ICP to enhance its long-term value.  Limited supply and light speculative development will likely lead to a continuation of rental growth through 2014,” said Pete Crovo, market officer, Prologis Florida.
Noteworthy deals recently closed include:

• NNR Global Logistics USA leased 53,760 SF of warehouse space at Prologis ICP.  Steve Digiacomo, SIOR of Digiacomo Group and Gabriel Garcia-Menocal, SIOR of NAI Miami represented the Tenant.
• Southern Paper, LLC leased 20,160 SF of warehouse space at Prologis ICP.  Luis Marquez of Casal Group represented the Tenant.
• Weiss-Rohlig USA LLC leased 26,880 SF of warehouse space at Prologis ICP.  David Albert of CBRE represented the Tenant.