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MIAMI-Global transportation and freight forwarding company UPS Supply Chain Solutions has signed an 84,560-sf lease for space in Miami Cargo Park at 3400 NW 74th Ave. The company plans to move into the space in October.
"UPS was attracted to this project because of its immediate proximity to the Miami International Airport, and visibility from the Palmetto Expressway," Cargo Ventures director of leasing and business development Zac Gruber tells GlobeSt.com.
Miami Cargo Park is owned and operated by New York City-based Cargo Ventures, which acquired the property in 2006. Cargo has been improving the property with capital improvements, such as painting, removing aggregate rock from the exterior, landscaping, truck court improvements and demolishing and rebuilding interior office areas.
The park was 100% when it was acquired. With the UPS lease, it will be 20% occupied. Cargo Ventures is in advance lease negotiations with two other companies for the remaining space in the park, Gruber says.
The 420,000-sf multi-use logistics facility has ceiling heights of up to 30 feet and trailer storage and parking. It is located six blocks from the Miami International Airport's Cargo Facility Entrance. "UPS will now be able to create tighter synergies between the airport and Miami Cargo Park to avoid increasing supply chain costs associated with transporting their cargo to the more western areas of Miami-Dade County."
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