MIAMI—Demonstrating the strong demand for industrial space in Miami, the first of four buildings at Airport North Logistics Park (ALP) has reached full occupancy. The new lease marks the second tenant to sign in the past two months.
Cushman & Wakefield executive director Wayne Ramoski and associate director Gian Rodriguez represented the owner, Airport North Industrial, in the long-term lease. Eco Window Systems leases 149,980 square feet of space. Americas Commercial Real Estate represented Eco Window Systems. Eco Window Systems is relocating from Medley International Business Park and doubling the size of its Miami-Dade distribution center.
“ALP met Eco Window Systems' need to expand into a state-of-the-art warehouse and distribution facility with excellent access to South Florida's transportation network,” Ramoski tells GlobeSt.com. “ALP continues to generate tremendous interest and we expect leasing activity in the park to remain strong as we move forward with the construction of buildings two and three.”
ALP is a 900,000-square-foot, class A industrial park in the first phase of development in Miami's Airport North/Medley market. The 45-acre master-planned industrial park sit at 8502 Northwest 80th Street. That's near Miami International Airport and Port Miami. Phase One of the project offers warehouse and distribution space in four separate buildings.
Eco Window Systems took space in building one, a rear-load, multi-bay facility offering built-to-suit office space, a 120-foot unshared concrete truck court, clear heights up to 34 feet, 57 overhead doors, two ramps, generous column spacing, a 60-foot staging bay, ESFR sprinkler system, 227 parking spaces and T–5 energy efficient lighting. The company manufactures impact-resistant windows and doors.
In April, Ramoski and Rodriguez landed the first tenant at ALP, negotiating a 106,000-square-foot expansion lease with Neutralogistics, a logistics company specializing in freight management, imports, exports, trucking, warehousing, distribution and brokerage.
Construction on buildings two and three, which total about 503,200 square feet combined, will start this summer. The buildings are set to come online by mid–2017.
Cushman & Wakefield research shows the Miami industrial market remains strong with demand for warehouse and distribution space leading the way. The firm reports demand for high-quality industrial space with ceiling heights north or 32 feet and direct access to the logistics network remained high.
“The overall vacancy rate in the Miami-Dade County industrial market declined by 150 basis points year-over-year on strong tenant demand for warehouse/distribution space,” CushWake senior research analyst Bradly Pape wrote in the firm's recently released first quarter 2016 Miami Industrial MarketBeat Snapshot. “The first quarter ended at 4.9%, the lowest the rate has been since the first quarter of 2007.”
MIAMI—Demonstrating the strong demand for industrial space in Miami, the first of four buildings at Airport North Logistics Park (ALP) has reached full occupancy. The new lease marks the second tenant to sign in the past two months.
Cushman & Wakefield executive director Wayne Ramoski and associate director Gian Rodriguez represented the owner, Airport North Industrial, in the long-term lease. Eco Window Systems leases 149,980 square feet of space. Americas Commercial Real Estate represented Eco Window Systems. Eco Window Systems is relocating from Medley International Business Park and doubling the size of its Miami-Dade distribution center.
“ALP met Eco Window Systems' need to expand into a state-of-the-art warehouse and distribution facility with excellent access to South Florida's transportation network,” Ramoski tells GlobeSt.com. “ALP continues to generate tremendous interest and we expect leasing activity in the park to remain strong as we move forward with the construction of buildings two and three.”
ALP is a 900,000-square-foot, class A industrial park in the first phase of development in Miami's Airport North/Medley market. The 45-acre master-planned industrial park sit at 8502 Northwest 80th Street. That's near Miami International Airport and Port Miami. Phase One of the project offers warehouse and distribution space in four separate buildings.
Eco Window Systems took space in building one, a rear-load, multi-bay facility offering built-to-suit office space, a 120-foot unshared concrete truck court, clear heights up to 34 feet, 57 overhead doors, two ramps, generous column spacing, a 60-foot staging bay, ESFR sprinkler system, 227 parking spaces and T–5 energy efficient lighting. The company manufactures impact-resistant windows and doors.
In April, Ramoski and Rodriguez landed the first tenant at ALP, negotiating a 106,000-square-foot expansion lease with Neutralogistics, a logistics company specializing in freight management, imports, exports, trucking, warehousing, distribution and brokerage.
Construction on buildings two and three, which total about 503,200 square feet combined, will start this summer. The buildings are set to come online by mid–2017.
Cushman & Wakefield research shows the Miami industrial market remains strong with demand for warehouse and distribution space leading the way. The firm reports demand for high-quality industrial space with ceiling heights north or 32 feet and direct access to the logistics network remained high.
“The overall vacancy rate in the Miami-Dade County industrial market declined by 150 basis points year-over-year on strong tenant demand for warehouse/distribution space,” CushWake senior research analyst Bradly Pape wrote in the firm's recently released first quarter 2016 Miami Industrial MarketBeat Snapshot. “The first quarter ended at 4.9%, the lowest the rate has been since the first quarter of 2007.”
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