(Crystal Proenza is associate editor of Real Estate Florida.)
MIAMI-Miami International Freight Solutions has signed a 75,000-sf lease at the largest vacant industrial space in the county, Centergate at Gratigny Business Park. MIFS has the option to expand that lease space up to 500,000 sf in the next few months, according to Jose I. Aguirre, chief operating officer of the logistics company.
Currently, MIFS is the only lease signed at the 978,000-sf industrial building. Owned by Higgins Development Partners, the 1.6-million-sf business park located in Miami's Airport North submarket is poised to announce more deals over the next few months.
"We are expecting almost the entire building to be occupied by the end of the year," says Jose I. Juncadella, principal of Coral Gables-based commercial brokerage firm Fairchild Partners Inc., who represented Higgins in the deal. Rental rates and other terms of the lease are not being disclosed.
"The usage of the space is ideal for us as we move cargo through our warehouse that is destined mostly to Latin America," explains Aguirre, highlighting the facility's accessibility to Miami Airport, the Port of Miami and Port Everglades. The partners responsible for MIFS, which officially formed last month, have been involved in the industrial logistics business in South Florida for more than 50 years. They previously owned Miami International Forwarders, which was sold five years ago to Eagle Global Logistics, says Aguirre, adding that they had a five-year non-compete agreement when they sold their previous business.
"This is our first facility with this company and we plan to work with agents around the world," says Aguirre. MIFS is already operating at its Centergate location and specializes in air and ocean freight, contract logistics, distribution and supply chain management and customs brokerage.
With the signing of the new lease, and more to come, Higgins Development is in the process of planning two additional warehouse and office facilities totaling 630,000 sf on the site.
"Room for growth is one of the keys to success for businesses in a dynamic market like South Florida," said Andres Miyares, manager of the company's South Florida operations, in a release. "As one of the region's largest industrial parks-and with further plans for development in the works-Centergate at Gratigny offers tenants unlimited potential."
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