The Real Deal Miami

Land cleared as commercial real estate heats up

April 26, 2013 02:00PM

Flagler Station

UPDATED, 4:22 p.m., April 26: Two major tenants signed $4.2 million in leases for space at Flagler Station as commercial real estate in South Florida stirs anew ahead of Panama Canal expansion plans, according to Corporate Solutions senior vice president Michael Torna, the tenants’ broker.

Global air-freight provider Traffic Tech leased 38,000 square feet in Flagler Station, the 9 million square foot, Class A office warehouse park.

Kaman Industrial Technologies, a publicly-traded industrial parts distributor, leased 15,000 square feet.

Other prominent tenants include Ryder’s, which has its corporate headquarters at Flagler Station, Fed-Ex and major shipper Crowley.

After a lull in South Florida real estate, “the commercial side is booming,” Torna told The Real Deal.

Flagler Station, at the intersection of Okeechobee Road and the Florida Turnpike, is a major site of activity.

“You see all that wood coming down. There are a lot of tenants looking for newer space,” Torna said. –Emily Schmall