(Read more on the industrial market.)
MIAMI-Iron Mountain Inc. has signed a 130,000-sf lease for warehouse space at 3355 NW 114th St. Iron Mountain will take occupancy of the space in March.
Elsa Heredia, with CB Richard Ellis' Miami Airport Office, tells GlobeSt.com that Iron Mountain will occupy the entire building, which was constructed as a build-to-suit project for the company. Heredia and John Vaught, also with CB Richard Ellis' Miami Airport Office, represented Iron Mountain. The landlord, 114th Street Property LLC, was represented by Industrial Group Realty Inc.
"The lease represents a new location and an expansion of Iron Mountain's South Florida portfolio," Vaught says.
He adds the building is located in an area north of Miami International Airport that has seen strong leasing activity in recent times. "Occupancy levels are high and activity remains strong," he says. "There's been a lot of interest among institutional investors for properties there."
Iron Mountain helps organizations reduce the costs and risks associated with information protection and storage. "This property works well for them because of its proximity to other Iron Mountain facilities, as well as the Palmetto Expressway, Interstate 75 and Miami International Airport," Vaught says.
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