State Street Realty Closes More Than 1,100,000-SF Of CRE Transactions, Valued At More Than $56 Million

(Pictured above from left to right:  George Pino, Brian Cabielles, Ed Lyden, Frank Trelles and Jason Gonzalez.)

 

State Street Realty, a leading Miami-based brokerage and advisory firm, is taking full advantage of a strong and robust South Florida commercial real estate market.

The firm recently completed an impressive thirty-one (31) warehouse and office lease & sales transactions totaling over 1.1 million square feet  with a value of over $56,000,000.  These commercial real estate transactions were all completed throughout the South Florida area.

State Street Realty President George Pino stated, “South Florida’s industrial real estate market is experiencing strong leasing activity, low vacancy rates and asking rent hikes.  Also, industrial investment activity in Miami-Dade has exceeded $2.5 billion since 2020. Institutional investors are keen to own recession-proof warehouse properties equipped to handle large tenants specifically in the e-commerce industry.  Such tenants continue to expand as a result of online retail consumer demand.  Surging demand for warehouse space nearby major airports and seaports is making industrial space harder to find and more expensive. The readiness and availability of warehouse space has now become the top priority for occupiers of industrial space.”

Deals that State Street Realty recently closed include:

• Stoneline Group, the Tenant, leased 29,250 square feet of industrial warehouse space at Prologis MIA Business Center located at 3407 NW 72 Avenue in Miami.  Pino and Senior Associate Brian Cabielles represented the Landlord. Audley Bosch, SIOR, of JLL represented the Tenant.
• VSE Aviation, the Tenant, leased 50,391 square feet of industrial warehouse space at Prologis Beacon Centre located at 8578 NW 23 Street in Doral.  Pino and Cabielles represented the Landlord. Matthew Cheezem of JLL represented the Tenant.
• Rakmark, Inc., the Tenant, leased 1,800 square feet of industrial flex warehouse space at Transal Park located at 8290 NW 27 Street in Doral.  Pino and Cabielles represented the Landlord. One Sotheby’s International Realty represented the Tenant.
• Upper Logistics, the Tenant, leased 5,400 square feet of industrial warehouse space at PS Business Park located at 1507 NW 82 Avenue in Doral.  State Street Realty’s Vice President Frank Trelles, SIOR, and Jason Gonzalez represented the Tenant.
• Maxim Healthcare Services, the Tenant, leased 10,160 square feet of office space at Westside Office Plaza located at 8400 NW 33 Street in Doral.  State Street Realty’s Pino and Executive Vice President Ed Lyden represented the Landlord.  Michael Bosica and Ben Sarason of Cushman & Wakefield represented the Tenant.
• Abysse America, Inc., the Tenant, leased 20,754 square feet of industrial warehouse space at Duke Miami Industrial Logistics Center located at 15002 NW 107 Avenue in Hialeah Gardens.  State Street Realty’s Cabielles and Trelles represented the Landlord.  Brandon Careaga of Edward W. Easton & Company represented the Tenant.
• CIF Group International, the Tenant, renewed their lease for 38,400 square feet of industrial warehouse space at Prologis Beacon Industrial Park located at 11013 NW 30 Street in Doral.  Pino and Cabielles represented the Landlord and Gabriel Menocal, SIOR, and Lucia Custer of NAI Miami represented the Tenant.
• Magna International, the Tenant, leased 8,668 square feet of industrial warehouse space at Flagler Station Business Park located at 11421 NW 107 Street in Miami.  Pino and Cabielles represented the Tenant and Stuart Gordon, SIOR, of Cushman & Wakefield represented the Landlord.