The privately owned maker of small tools and materials, used by artisans, model makers, engineers and prototype builders, already leases 18,473 sf of space in noncontiguous buildings in the business park that Miami Lakes Properties manages as a division of the Graham Cos.
Graham officials didn't disclose the park's asking average rent in a news release, but sources familiar with the Miami Lakes real estate submarket tell GlobeSt.com the estimated asking rents in the park is $9.25 per sf. It is uncertain whether the new lease contained any concessions that Small Parts may have renegotiated on the existing space it occupies.
The lease covers space in building No. 11 in the business park at 13925 NW 60th Ave. The company currently occupies building Nos. 15A and 15B at 13980-82 NW 58th Court.
Founded in 1964, Small Parts manufactures and distributes stock and custom parts for a variety of industries including universities, pharmaceutical firms, hospitals, clinical laboratories, research laboratories, defense contractors, precision tool manufacturers and engineering-design firms.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
