200,000 SF of Industrial Space Grabbed in South Florida

MIAMI-Grubb & Ellis has completed two large, short-term industrial deals recently in South Florida, with one more ready to close as early as next week. The two done deals total 200,000 sf, and the third deal is for 50,000 sf. One broker notes a growing trend toward large industrial deals such as these in the area.

“We’re seeing a lot of large, short-term requirements … with all the uncertainties in the economy,” Eric Person of Grubb & Ellis tells GlobeSt.com, adding that although these three leases are for six to nine months, they have much value. “The space gets taken down and removed from the market.”

In one recent deal, Smith Terminal Warehouse Co. has subleased 100,000 sf of industrial space from USCO Distribution Services. The space is located in Beacon Station at 10805 NW 100th St. in Medley, FL. Smith Terminal is a public warehousing company, which offers contract warehousing space.