The Real Deal Miami

Food distributor renews 200K sf lease in Broward

Demand for industrial space is growing
March 05, 2015 10:30AM

3225 Meridian Parkway

3225 Meridian Parkway and Wayne Schuchts of Avison Young

A major food distributor renewed its lease in Weston, commercial real estate firm Avison Young announced.

KeHE Distributors, which ships foods throughout North America, renewed its 201,849-square-foot lease at Meridian Business Campus, where it occupies an entire building.

Avision Young said the renewal, at 3225 Meridian Parkway, is one of the largest in Broward over the past few months.

Wayne Schuchts of Avision Young brokered the lease for KeHE.

The firm said the industrial market is heating up, with vacancy rates falling to 6.7 percent — the lowest they have been since late 2008, Cushman & Wakefield reported this week.

“Demand for industrial space in Broward submarkets has heightened and is prompting tenants to compete for a narrowing supply of quality space,” Schuchts said in a statement. “Our unique analytics and market knowledge led to extracting various advantages in advising our client to renew their lease position.” — Sean Stewart-Muniz