Stewart Pearlman, Flagler's vice president/regional manager, would not disclose leasing details. The average asking rent in Beacon Station is $5.40 per sf to $6.35 per sf. Based on these numbers, the combined estimated lease value of Beacon Station's latest production is $709,200.
The three newest tenants are Adex International, 16,550 sf at 10125 N.W. 116th Way, with an estimated lease value of $397,200; All Wood Creations Inc., 7,200 sf at 11701 N.W. 102nd Road, estimated value, $172,800; and Pramac Industries, 5,800 sf at 10100 N.W. 116th Way, estimated value, $139,200.
Pedro J. Garcia and Stuart T. Gordon of Codina Realty Services Inc. ONCOR International represented Flagler Development in all three transactions. Patricia Marquez with Westvest Associates Inc. represented All Wood Creations. There was no co-broker in the Adex International and Pramac Industries deals.
About a month ago, Beacon Station signed three new industrial leases. They were General Mills Operation Inc., 32,700 sf at an estimated value, $1.54 million; ATC Group Services Inc., 17,326 sf , estimated value, $815,015; and Florida Distribution and Logistics, 12,000 sf, estimated value, $564,480.
Beacon Station will have more than nine million square feet of office, warehouse, distribution, retail and showroom space on 960 acres at full buildout. Phase I comprises 2.5 million sf; Phase II, 6.5 million sf. The park currently has 4.5 million sf and is 94% occupied.
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