Transwestern Inks 30,000 SF Lease Renewal
Transwestern signed a 30,000 square foot lease renewal for XCC Logistics, a Panamanian cargo company specializing in providing personalized logistic services, at Dolphin Commerce Center.
Walter Byrd and Ben Eisenberg, Managing Directors of Transwestern’s South Florida offices, Thomas Kresse, Senior Vice President, and Carlos Gaviria, Associate, completed the transaction on behalf of XCC Logistics.
Located at 11200 NW 25th Street in Doral, XCC Logistics will continue to capitalize on the ease of access to the Florida Turnpike and 836 Expressway, which will be of even more importance as expansions of the Panama Canal and Port of Miami come to completion during this lease term. With industrial real estate sale prices in Miami-Dade County hitting record levels and vacancy rates dropping, there is greater emphasis for companies to secure real estate requirements.
“With the Miami-Dade industrial market seeing vacancies at pre-recession numbers and spikes in rental rates at 13 percent year-over-year, tenants are securing space for the long-term in advance of expected increases in production, and competition. XCC Logistics is a relative newcomer to the market at just 10 years, but is committing long-term and is eager to translate the widening of the Panama Canal into business growth,” said Mr. Kresse.
Recently, a mini building boom began in the warehouse district west of Miami International Airport. In particular, in Miami-Dade nearly one million square feet of new warehouse construction is being built on spec while South Broward will be bringing nearly 350,000 new warehouse construction to the market, including a new 202,000 square foot Pompano Beach project that was recently announced. The overall market is robust and driven by institutional investors seeking to take advantage of Miami’s advantageous points of access to the Americas.
Utilizing the most modern equipment in the market, XCC Logistics focuses on technology and communications to be a leader in logistics services from its offices and warehouses in the U.S. and Panama.
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