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.
General Mills plans to use its space as a manufacturing and baking facility for General Mills/Pillsbury.
ATC Group Services is a national environmental, building sciences, infrastructure, geotechnical/materials testing, informational systems and environmental training services provider.
Florida Distribution and Logistics services the Caribbean and South America.
Pedro Garcia and Stuart T. Gordon of Codina represented Flagler in all three transactions.
William Nichols with Corporate Service Consortium Inc. represented General Mills Operation Inc. Ana Carolina with Digiacomo Group Inc. represented Florida Distribution and Logistics. There was no broker for ATC Group Services Inc.
Beacon Station, at 9955 N.W. 116th Way in Miami, will have more than nine million sf—2.5 million square feet in Phase I and 6.5 million sf in Phase II—of office, warehouse, distribution, retail and showroom space on 960 acres at full buildout, according to Codina's prepared statement.
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