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The Real Deal Miami

State Street brokers 133,000 square feet of Miami industrial leases

March 28, 2012 11:15AM

State Street's George Pino

State Street Realty has closed just under 133,000 square feet of lease transactions in Miami’s industrial market in February and March, the firm reported. The transactions all occurred in the still-strong Miami Airport submarket. “State Street Realty is experiencing a steady stream of transaction activity which is a testament to how the industrial and office sector continues to strengthen in the Miami Airport West area,” said George Pino, president of State Street, who brokered the deals along with senior vice president Ed Lyden. “This year, you will continue to see a significant amount of industrial space absorbed and subsequently rental rates will continue to trend up.” The lease activity was led by a 38,923-square-foot renewal by Air Marine Forwarding at Prologis Beacon Lakes. — Alexander Britell