Ryder Logistics relocated and expanded its third-party logistics operations to Cabot Miramar from Seneca Park in Pembroke Pines, where it previously occupied ±80,000 square feet. The company will take occupancy immediately.
Matt McAllister, Chris Metzger, Rick Etner, and Christopher Thomson represented building owner Black Creek Group in the lease of the ±25,300-square-foot warehouse and distribution center.
“Despite the many challenges our world has been facing due to the pandemic, the commercial real estate industry is booming, and South Florida is a top destination for business relocation,” said Christopher Thomson, the 2022 president.
CBRE’s Mike Oretsky, Tom O’Loughlin, and Larry Genet and Berger Commercial’s Jonathan Thiel and Keith Graves represented the tenants in the lease deals.
The purchase price amounts to $234 per square foot.
Lee & Associates South Florida President Matthew Rotolante and Vice President Conner Milford represented tenants in the deals.
The three leases bring the ±180,306-square-foot industrial building to full occupancy.
The Cushman & Wakefield team was comprised of Matthew G. McAllister, Chris Metzger, Richard F. Etner Jr., and Christopher Thomson. Pete Sheridan of JLL represented the building’s owner, Prologis.
“This free-standing, single-user industrial building is a rare find that is in high demand in today’s highly competitive industrial market,” said Etner.
The 155,508-square-foot industrial asset sold for $17 million.