Flagler would not disclose exact rental rates, but the asking rental rate in Beacon Station ranges from $5.40 to $6.35 per sf. The capital investment for the project is reportedly $40 million.
The building should be finished within two years. With the new headquarters, Ryder will be scaling back from its current 405,000-sf facility on Northwest 82nd Ave. in the Doral area of Miami-Dade County, where the company has been based since 1973. Space planning reviews show Ryder can operate most efficiently with about 40% less space than it has now.
The decision to build in Beacon Station, located at Northwest 106th St. and Florida's Turnpike, comes after an intense site-selection process that lasted a year. Originally, the company considered 22 sites in Miami-Dade and Broward counties.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
