VSRE Breaks Ground On Two Industrial Buildings Totaling 364,000 SF
This milestone marks the continuation of Phase IV, a 121-acre site within Countyline Corporate Park that can accommodate up to 2.2 MSF at full build out.
This milestone marks the continuation of Phase IV, a 121-acre site within Countyline Corporate Park that can accommodate up to 2.2 MSF at full build out.
The ten-year lease is expected to commence in November 2023 upon completion of tenant improvements.
Transwestern’s Carlos Gaviria, Thomas Kresse, Walter Byrd, and Ben Eisenberg represented building owner Terreno Realty Corporation in the transaction.
VSRE has also been contracted to develop apartment buildings, retail, and offices.
The 6.7-acre improved land parcel is adjacent to the intersection of the Palmetto Expressway and West Okeechobee Road.
The property consists of two recently developed rear-load 32-foot clear industrial distribution buildings containing approximately 402,000 square feet on 19.0 acres.
The property consists of one recently developed rear-load 32-foot clear industrial distribution building containing approximately 221,000 square feet on 11.4 acres.
The newly completed buildings are already 100% leased with five tenants.
Miami’s industrial market has experienced healthy leasing activity throughout 2015, according to CBRE Research, with nearly 2.1 million square feet of net absorption pushing vacancy down to 3.8% in 3Q2015. CLICK ON THE HEADLINE FOR MORE
The 11-year Banah deal, valued at between $15 million and $20 million, was one of top leases signed in 2011. CLICK ON THE HEADLINE FOR MORE
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