The project transformed Ryder System’s former office headquarters into a modern, LEED certified,
326,448-square-foot logistics complex now available for immediate occupancy.
Colliers Vice Chairman Jonathan Kingsley represented the tenant, Seaboard Marine, in the transaction. JLL Executive Managing Director Brian Smith represented the landlord, Prologis, in the lease renewal.
The four-building development is expected to break ground this September.
The landmark business park totals approximately 3.6 million square feet and is home to more than 350 companies.
Year-over-year, the Miami industrial market experienced a 53 percent jump in rent.
For the past 33 years, he has operated a successful brokerage and property management company.
The lease and sale transactions total over 80,920 square feet.
The building is still under construction and scheduled for completion in September 2021.
“Like any great deal, this one was 5 years in the making. It was an extreme lesson in perseverance,” commented Genet.
Bank of America purchased the asset on behalf of a client, and JLL will lease the property for the new owner.