Five Take 43,000 SF at Beacon Centre

MIAMI-Five companies have inked leasing deals totaling 42,804 sf recently at Beacon Centre, a 2.3-million-sf, class A business park in the city. The lease values were not disclosed; however, based on average rates in the area, the leases are estimated to be worth more than $1 million combined.

Jose I. Juncadella, David Spillers and George Pino with Codina Realty Services Inc.-Oncor International, a division of Coral Gables-based Codina Group, represented the property owner, AMB Property, in all the transactions.The largest deal is BR 1 America’s 15,654-sf industrial lease at 8400 N.W. 25 St. DiGiacamo Group represented BR 1 America in this lease.In addition, the park signed these companies:

• Wal-Mart, which leased 13,895 sf of industrial space at 1616 N.W. 84 Ave. There was no co-broker in this deal.
• Honeywell International, which is taking 9,705 sf of industrial space at 8491 N.W. 17 St. There was no co-broker in the transaction.
• United Furniture of America, which leased 2,400 sf of industrial space at 1912 N.W. 84 Ave. There was no co-broker.
• Pusan Metropolitan City, which leased 1,150 sf of office space at Beacon Centre, 8319 N.W. 12 St. There was no co-broker.

Beacon Centre, in the Airport West submarket, the largest in Miami-Dade County, is approximately 92% occupied. In the county, despite strong sales this year, leasing activity was down 31% from 4.1 million sf in the first half of 2003 to 2.9 million sf in that period this year. The county had 14.1 million sf of available industrial space after the second quarter, according to a Cushman & Wakefield mid-year report on the market.