Ryder System Makes Plans for New HQ

MIAMI-Ryder System Inc. has reached an agreement for a new, approximately 230,000-sf headquarters facility here in Beacon Station, Florida’s largest business park. Under the agreement, Jacksonville, FL-based Flagler Development Co., owner of Beacon Station, will own the build-to-suit building and lease it to Ryder.

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.