Transwestern & JLL Complete Largest Lease Transaction In 2013

The South Florida offices of Transwestern and Jones Lang LaSalle signed a new 148,750 square foot, long-term lease on behalf of the tenant, SeaFreight Agencies (USA) Inc., and landlord, IndCor Properties, Inc., respectfully, at International Corporate Park, located at 9950 NW 17^th Street in Doral.
This transaction is the largest to date in 2013, and will make SeaFreight Agencies (USA) Inc. the sole tenant in the Class “A” freestanding building, which includes 16,000 square feet of office space.
Transwestern’s Walter Byrd and Ben Eisenberg, Managing Directors of the South Florida offices, Thomas Kresse, Senior VicePresident, and Carlos Gaviria, Associate, completed the transaction on behalf of the tenant, a leading provider of cargo and shipping solutions, which is expanding from its current 50,000 square foot location within Doral. SeaFreight Agencies (USA) Inc. will be occupying the space along with Seapack, Inc., a related company.
“Our new space requirements are reflective of our companies continued growth and commitment to meeting our clients needs,” said Mark Kearns, President, Seapack, Inc. “Miami is an epicenter to global distribution and it was important we had a significant footprint.”
The new tenant will capitalize on the ease of access, growth opportunity, abundance of highly efficient warehouse and office square footage, and abundant trailer spots and dock high door ratio, which complements the luxury of occupying a freestanding building.
“With vibrancy of international trade within South Florida, we are seeing an uptick in demand for square footage between 100,000 and 200,000 and mostly to fuel expansion,” said Kresse.
Jones Lang LaSalle’s Steve Medwin, Managing Director for South Florida, and Nick Wigoda, Vice President, were the exclusive brokers on behalf of the landlord, IndCor Properties.
“This significant transaction further validates Miami as a global industrial gateway market. Sophisticated institutional landlords and tenants alike understand the importance of growing their presence within the region,” said Medwin. “We continue to experience significant absorption, coupled with increasing rental rates. These key indicators point to a continuing market recovery.”