Colliers South Florida Arranges Two Industrial Leases Totaling 127,000 SF in Miami-Dade

Colliers South Florida Arranges Two Industrial Leases Totaling 127,000 SF in Miami-Dade

Leases on behalf of Seaboard Solutions and MSH highlight continued tenant demand

 

Miami, February 7, 2019 – Colliers International South Florida is pleased to announce Executive Vice President Jonathan Kingsley and Vice President Ryan Goggins recently arranged two industrial leases in Miami-Dade county, totaling approximately 127,000 square feet. The leases highlight continued demand from industrial occupiers and strategic deal making by the brokerage team, as industrial space in Miami-Dade closed out 4Q 2018 with a vacancy rate of just 4 percent.

 

“The industrial market continues to be the strongest asset type in South Florida at this time,” noted Kingsley. “By leveraging each clients’ high credit and square footage to create a balanced deal structure – rate, term and tenant improvement contributions by the landlords – we were able to navigate the tight market and create solutions that best fit the respective needs of each of our clients.”

 

In the first transaction, logistics provider Seaboard Solutions, a wholly owned subsidiary of Seaboard Marine, LTD, leased 29,584 square feet of space at the Prologis-owned building located at 7850 NW 80th Street in Medley. The new space serves as an expansion of its approximately 268,000 square feet of existing space with Prologis and will enable the company to accommodate the growth of its customers. The growing  demand of customers caused Seaboard Marine, Ltd. and subsidiary Seaboard Solutions to enhance its cargo ship and land-based transportation services from South Florida to the Caribbean and Latin American ports they serve. Seaboard Marine, LTD has been a client of Kingsley since 2002.

 

In addition, Kingsley and Goggins advised Maintenance Supply Headquarters (MSH) in a long-term, 97,183 square foot lease in the newly-developed Gateway Commerce Park, located at 1624 NW 215th Street in Miami Gardens. A division of Lowe’s, MSH is a supply house for multi-family apartment complexes. MSH strategically entered South Florida with this new lease, bringing them closer to its customers. Landlord Eastgroup Properties’ new development was selected due to its close proximity to the major road systems that provide access to all of South Florida, streamlining delivery and product transport.

 

The respective landlords for each transaction were represented by Brian Smith and Audley Bosch of JLL.

 

“In a tight market, full transparency and responsiveness throughout the negotiations are extremely important to create successful outcomes for the clients,” added Kingsley. “Having collaborated with Brian and his team on multiple transactions in the past, our clients were able to benefit from our established rapport and collective experience to deliver the very best solutions.”