(Crystal Proenza is associate editor of Real Estate Florida.)
MIAMI-Locally based Interport Services and B America Corp. have merged and plan to consolidate local distribution centers at a 118,897-sf leased space at Beacon Centre in Doral. The five-year lease is valued at just shy of $6 million, says Jason Tresslar, senior associate with Flagler Real Estate Services, who represented landlord AMB Property Corp. in the transaction, along with vice president George Pino.
The new lease signing at 2000 NW 84th Ave. brings occupancy at the 2.3-million-sf Beacon Centre to 97%, says Tresslar, and fills the biggest space available at the industrial park. Cushman & Wakefield's second-quarter industrial market report puts vacancy in the Airport West submarket, where the facility is located, at 5.6%.
Interport provides customized worldwide solutions to shippers, manufacturers and suppliers, while B America is a locally based brick and stone distributor. The merged companies chose Beacon Centre because of its proximity to the airport, says Cushman & Wakefield's Audley Bosch, who represented the companies in the deal.
"There are still driving forces for South Florida coming from Latin America and the Caribbean, which are the core markets this group will be representing," says Bosch. A contact at Interport was not available for comment Monday.
Interport currently leases 40,000 sf at Beacon Centre, and also has a 40,000-sf warehouse at 9880 NW 25th St. According to Bosch, Interport might maintain that lease while using AMB's space as its headquarters. The vacant space the company will leave at the Beacon Centre will be put back on the market, and has already drawn the interests of several parties, says Tresslar. B America will leave a 25,000-sf space they have elsewhere in Doral to join Interport.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
