Beacon Centre's largest tenant is Tech Data with 224,000 sf. Other tenants are DHL, Telegis, Commonwealth Distributors, Geologistics, Acer and Kuehne & Nagel. About 90% of the complex is bulk warehouse space. The remainder is office and retail. Warehouse space averages $7 per sf to $8 per sf.

The Beacon Centre purchase gives AMB four million square feet of industrial space in the west airport submarket here, according to AMB asset manager Dave Buxbaum based in Boston. "The strategy is to own real estate on or near the airport." Buxbaum says. "Miami International Airport is a very important player in the global air freight market."

ther AMB properties are Miami Airport Business Center, purchased in August of 1999, and Bear Center, Blue Lagoon and Beacon Industrial Park, purchased in mid 1990. Coral Gables, FL-based Codina Group will lease and manage Beacon Centre. As of Sept. 30, AMB owned, managed and held renovation and development projects totaling 87 million sf and 946 buildings in 25 metro markets.