Codina Ralty Services Inc. ONCOR of Coral Gables, FL, which represented park owner Flagler Development Co. of Jacksonville, refused to disclose leasing terms but said the contracts were for seven-year to 10-year periods.
The average asking rental rate in Beacon Station ranges from $5.40 per sf to $6.35 per sf. Based on this information, the combined estimated lease value is $2.92 million, or $2.35 million at minimum, according to GlobeSt.com research.
The three new tenants are General Mills Operation Inc., which leased 32,700 sf of industrial space at an estimated lease value of $1.54 million and a minimum value of $1.24 million; ATC Group Services Inc., 17,326 sf at an estimated lease value of $815,015 and a minimum value of $654,922; and Florida Distribution and Logistics, 12,000 sf at an estimated lease value of $564,480 and a minimum value of $453,600.
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