The specific lease values were not disclosed, but based on the average asking rental rate in the park of $7 to $7.50 per sf gross for industrial space, Zip Transport's mid-term lease is valued at an estimated $1.75 million. The lease is for 1701 N.W. 84th Ave.
The CEMUSA Miami lease, which is mid-term with an option to renew, has an estimated value of $580,000. The site is 2119 N.W. 84th Ave.
In another deal, Geologistics America, a transportation company, leased 25,230 sf of industrial space in a new location at 8501 N.W. 17th St. This short-term lease is valued at an estimated $275,000.
In addition, Strax Inc., a computer and cell phone accessories company, leased 17,988 sf of industrial space at 8232 N.W. 12th St. This mid-term lease is valued at an estimated $520,000. The company renewed and increased its space, which it will use for office/showroom/distribution.
In another deal, Henry Schein Inc., a dental equipment company, leased 11,991 sf of industrial space at 2089 N.W. 87th Ave. The company's long-term lease there has an estimated value of $620,000. It is a new location that will be used for office/showroom/distribution.
Also, the computer company Maxusa leased 7,440 sf of industrial space at 1607 N.W. 84th Ave. This short-term lease is a renewal that has an estimated value of $100,000.
Finally, T&G Corp., a general contractor, recently leased 2,400 sf of industrial space at 8491 N.W. 17th St. The short-term lease is for a new location that will be the company's headquarters in Doral. The lease is valued at an estimated $36,000.
"Early in 2003, we're seeing some of the larger tenants coming back," George Pino, a broker involved in all of the deals, tells GlobeSt.com. "Deals of 25,000 sf and less are still the backbone of the Airport West market."
Despite the threat of war and the economy, he adds, "industrial space has remained largely resilient. We've been able to keep vacancy levels down quite a bit."
Beacon Centre, which has 2.3 million sf, is currently 98% occupied. Jose I. Juncadella, David Spillers and Pino of Codina Realty Services represented the owner of Beacon Centre, AMB Property, in all of the deals. The three also represented T&G Corp.
Robert Meneses of Westvest Associates represented Zip Transport. Tony Puente of Insignia ESG represented CEMUSA Miami. Gabriel Menocal of Digiacomo Group represented Geologistics America. Brian Smith of Alliance Commercial represented Strax. Paul Isenbergh of Cushman & Wakefield represented Henry Schein. Sherri Beregovoy of Digiacomo Group represented Maxusa.
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