Neither party would disclose construction or leasing numbers. But area brokers and construction industry estimators tell GlobeSt.com on condition of anonymity the three-story building northwest of Miami International Airport will probably have a hard construction cost of $150 per sf or $12.3 million.
The long-term lease will have an estimated value of at least $24.6 million based on an average base rent of $20 per sf, brokers tell GlobeSt.com
"That could turn out to be on the low side," a knowledgeable Miami industrial-office broker tells GlobeSt.com on condition of anonymity. "You could be looking at a $35 million or $45 million leasing package here."
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