The sublease is yet another recent large industrial deal in the area.
Large, short-term deals such as this have removed space from the market and have been a healthy sign for the area, some brokers say. In addition, this deal contributes to the large amounts of sublease space being taken in the area.
Based on average sublease rental rates in the low to mid-$5 range per sf, the deal is estimated to be valued at more than $200,000.
Eric Person and Rafael Villamizar of Grubb & Ellis represented USCO Distribution Services in the transaction.
Beacon Station, located northwest of Miami International Airport, will include approximately 9 million sf of commercial and industrial space and amenity retail on 960 acres at full build-out. Currently, the park has about 4.5 million sf and an occupancy in the low 90% range. The business park is owned by Flagler Development Co. of Jacksonville, FL.
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