The Detroit-area company paid $4.76 per sf for space in the Medley Commerce Center, a 500,000-sf multi-tenant facility at 9265 NW 101st St. Based on area rents, the tenant struck a good deal.
In a its mid-year report, Codina Realty Services Inc. of Coral Gables, FL estimates the gross average asking rent averaged $6.52 per sf through the six months ended June 30. Cushman & Wakefield of Florida Inc. estimates the asking rent at $6.40 per sf.
International Logistics retained Ron Berger, a Trammell Crow Co. vice president, to represent it in negotiations with Gateway SE Properties, the property owner. Lorenzo Arce, a broker with Americas' Industrial Realty Corp., represented the owner.
In a prepared statement, Berger says International Logistics vacated a smaller site in the Miami-Dade County airport/west submarket as part of a strategic plan to expand its South Florida operations.
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