MIAMI-ModusLink Corp., a supply chain management firm, inked a deal on 114,000 square feet of warehouse space at the Medley Distribution Center. The 250,000-square-foot class A industrial-office building is in the Flagler Station Business Park.
Jones Lang LaSalle Managing Director Steve Medwin, Executive Vice President Harry Wardell, and Vice President Nick Wigoda represented the Chicago-based landlord, Columbia Florida 92nd Industrial. The lease is a long-term renewal of 57,000 square feet and an expansion of 57,000 square feet. In the coming months, the tenant may expand into an additional 50,000 square feet in the building.
“This is another example of a company making a commitment to South Florida because they do business in Latin America,” Medwin tells GlobeSt.com. “ModusLink’s business has increased dramatically in the last couple of years despite the U.S. downturn. We just see it as a bullish sign in the economy here.”
During the past five months, the Jones Lang LaSalle industrial brokerage team has completed more than 800,000 square feet of warehouse leases in Miami-Dade County. And Medwin says most of the transactions on the industrial side had some sort of Latin America connection.
“We are working with another prospect looking to lease the last remaining portion of this building,” Medwin says. “It is a food distribution company that supplies Latin America and the Caribbean,” Medwin says. “That’s another expansion, so we look at that as a another positive sign.”
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