MIAMI—Logistics companies are jockeying for prime industrial positioning as Miami's commercial real estate market continues heating up. NeutraLogistics, a logistics company specializing in freight management, imports, exports, trucking and brokerage, is relocating to a larger space.
Blanca Commercial Real Estate executive vice president Juan Ruiz represented NeutraLogistics in the transaction. George Pino and Ed Lyden of State Street Realty represented Prologis. Financial terms of the agreement were not disclosed.
“Our firm is well known for its robust market share representing owners but through the strong relationships we have established in the region we also are fortunate to have developed a strong tenant representation practice advising office and industrial tenants,” says Ruiz. “This deal is especially significant. NeutraLogistics' expansion of its warehouse space in Doral by over 60% is a testament to the company's great leadership and further proof that logistics firms are thriving in South Florida.”
Currently located in 31,000-square-foot location in Doral, FL, the logistics company is moving its operations to 50,363 square feet of warehouse space at 8578 Northwest 23rd Street in Doral's Prologis Beacon Centre. The deal results in positive absorption for the Doral market.
The NeutraLogistics lease follows a surge of activity for Blanca during 2014. The firm recently won the exclusive leasing assignment for the office component at the Doral at 25th complex in Miami's Airport West submarket and recently closed 40,000 square feet of Class A office leases on behalf of Prudential Real Estate Investors at the Sabadell Financial Center in Downtown Miami.
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