Construction Begins on 193,000-SF Spec Building

(To read more on the industrial market, click here.)

MIAMI-Developers have begun construction on Beacon Lakes Building 7, a 192,476-sf warehouse/distribution building situated on a 9.71-acre site in the Beacon Lakes business park.

The project is a joint venture between Jacksonville-based Flagler Development Group and San Francisco-based AMB Property Corp. The leasing agent for the property is David Albert, vice president of Codina Realty Services. Project manager Rafael Romero says the building will be constructed on a speculative basis and is expected to be completed in January. Leasing efforts for the space, which can accommodate a single tenant or multi-tenants, have begun but no leases have been signed. “We have already leased 94% of the existing buildings in the park,” says project director Rafael Romero. “The market and the demand for industrial space in this area are strong and continue to grow.”