State Street closed 117,000 square feet of Miami leases in April

State Street Realty closed 117,000 square feet of office and industrial leases in April, with a total value of $6.6 million, the firm announced today. “This year, you will continue to see a significant amount of industrial space absorbed as many tenants have shown a strong desire to expand their warehouse space, which is an excellent trend not seen in previous years,” said George Pino, president of State Street. “Long-term efforts to encourage trade with Latin America are starting to pay off and also having a positive impact on the local economy as Miami-Dade County has become the shipping center to Latin America.” The largest was a 79,805-square-foot lease by 3PD at Prologis Beacon Lakes. — Alexander Britell