JLL team closes 300,000-sf in Miami

A Jones Lang LaSalle team composed of managing director Steve Medwin and vice president Nick Wigoda closed more than 300,000 square feet of industrial leases in Miami-Dade County, the firm announced. The team most recently represented IndCor Properties in a 178,000-square-foot lease renewal at 10200 NW 21st Street and 10000 NW 17th Street in Doral.  The tenant, Yusen Logistics Americas, a freight company, was represented by Stephen DiGiacomo of DiGiacomo Group.

The team also represented IndCor Properties in another 29,250-square-foot industrial lease renewal with Trane US, a division of Ingersoll Rand, at 2660 NW 89th Court, also in Doral.

In a new industrial lease deal and expansion for the duty-free retailer, SMT Duty Free, the team arranged a 50,000-square-foot deal at 8935 NW 27th Street in Doral. The deal doubled SMT’s current square footage. In Miami, Medwin and Wigoda represented Royal Wine Corp., an importer and distributor of wines and specialty foods, in the $3.3 million purchase of a 50,000-square-foot, free-standing building at 8265 NW 70th Street in Miami. Lee Katsikos of the Katsikos Group represented the seller, Rubacon Development.

“As one of the top industrial markets in the U.S., South Florida continues to garner the demand of domestic and foreign investors looking to establish and expand their footprint in the region’s thriving industrial market,” Medwin said. “We foresee this level of activity to continue in 2013, as vacancy rates and asking prices remain stable and new projects break ground.” —Christopher Cameron