Ozburn-Hessey Logistics, the world’s third-largest logistics company, signed a lease to occupy the newly-built Pan American North Distribution Center in Medley, according to Jones Lang Lasalle, who brokered the deal.
The 185,520-square-foot lease, the largest in Miami’s industrial market this year, comes as companies rush to expand their capacities in anticipation of the widening of the Panama Canal.
“OHL chose Pan American North Distribution Center for its expanded Miami facility because of the 30-foot clear ceiling heights that will allow use of additional cubic space, its close proximity to major highways, and central location within the Miami-Dade County industrial market,” Steven Medwin, Jones Lang Lasalle’s managing director, said in a news release.
Miami-Dade County’s industrial market has also received a boost from the Port of Miami’s deep dredge and the port tunnel and highway connection, where construction is underway. Industrial space has a vacancy rate of 7.4 percent, according to Jones Lang Lasalle statistics. –Emily Schmall