MIAMI—At 475,000 square feet, that’s the size of the industrial lease Flagler Real Estate Services just inked at Centergate at Gratigny—and it marks Florida’s largest industrial deal in two years and the largest in South Florida is more than four years.
Flagler brokers Wayne Schuchts and Ed Lyden represented the landlord in the transaction. James Nolan with Butters Realty and Wayne Ramoski with Cushman & Wakefield represented the tenant, international promotional products firm Bullet Line.
Bullet Line is taking down the space, adding to the more than one million square feet of lease transactions that have closed at the mixed-use Hialeah business park since Flagler took over as the asset manager two years ago. Flagler project manager Brian Kronberg completed a large-scale property revitalization and transformation, as well as launching aggressive marketing strategies that raised occupancy by almost 80%.
“This is a win-win deal for everyone involved,” Pike Rowley, president of Flagler Real Estate Services, said in a statement. “Not only have we added another class A tenant to the mix at Centergate, but Bullet Line will benefit from more efficient operations now that several of its regional facilities have been consolidated into a single base of operations.”
Bullet Line, which serves more than 9,000 distributors worldwide, will move its entire operations to Centergate. The company joins a tenant roster that includes Carnival Cruise Lines, Caterpillar Logistics, and Electronic Transaction Consultants Corporation.
Located at 6301 E. 10 Ave., Centergate at Gratigny offers one million square feet of space, including executive offices, climate-controlled manufacturing, light assembly space, and distribution space. The 47-acre property also has 27 acres of land available, which can accommodate an additional 650,000 square feet of development.
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