(To read more on the industrial market, click here.)
MIAMI-Distributor American Crane & Tractor Parts has leased 85,424 sf of industrial space at Beacon Industrial Park at 3200 NW 112th Ave.
Codina Realty Services brokers David Albert and Devin White represented the landlord, San Francisco-based AMB Property. Carlo DiGiacamo Group represented the tenant. Codina Realty Services is a subsidiary of Jacksonville-based Flagler Development Group. Albert tells GlobeSt.com that the company will use the space for distribution. "The space really fit their needs as far as location," Albert says. "It has great access to the airport as well as all the major thoroughfares."
The lease is reflective of strong leasing activity in the Airport submarket, due to the lack of available land for new construction. With the lease Beacon Industrial Park, which contains 785,252 sf, is 100% leased. "It was hard for [American Crane & Tractor Parts] to find space that suited their needs," Albert says. "The company took a little more space than what they normally would have. They figured that, if they don't lock in space now, then they'll have to pay more for it later."
Another factor that American Crane & Tractor Parts considered was that AMB owns a considerable amount of space in the area. AMB owns 51 buildings in Miami with a total of 5.4 million sf. "As the company grows, it figures that AMB will have existing space to accommodate their needs," Albert says.
American Crane & Tractor Parts is headquartered in Kansas City, KS, but has branches in St. Louis, Dallas, Knoxville, TN and Reno, NV.
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