PepsiCo/Frito-Lay inks lease at spec industrial park in Homestead

Miami /
May.May 20, 2016 03:00 PM

PepsiCo/Frito-Lay will be among the tenants at a spec industrial park in Homestead, Newmark Grubb Knight Frank announced on Friday.

NGKF was hired to lease the Turnpike 1 Business Park, a 1.6-million-square-foot development under construction in southwest Miami-Dade. GBX Capital, a Brazilian developer and investor, broke ground on the 117-acre project in April, according to a press release.

NGKF’s Steven Medwin and Nick Wigoda are marketing and leasing the multi-phase park. They were also the agents on the property when JLL was hired to lease the spec development in the fall. Plans include 16 industrial buildings situated at the intersection of Southwest 336th Street and 147th Avenue, which is within a few miles of both U.S. 1 and Florida’s Turnpike.

The first phase includes a fully leased spec industrial building with 24-foot clear ceilings, build–to-suit offices, truck courts, surplus trailer storage and expansion land. PepsiCo/Frito-Lay’s new distribution center will serve south Miami-Dade and Monroe counties. Bianco Fine Foods will occupy space in phase one as well. The brokerage is also in negotiations with a global distribution company for the remainder of the building. The second building will span 43,000 square feet and is in the planning and permitting stage, according to the release.

Medwin said the industrial market in Homestead is lacking supply. Miami-Dade has 3.4 million square feet of industrial space in the pipeline, The Real Deal has reported.

“We are seeing so much pent-up demand from large and small companies alike who are looking for Class A industrial space that’s been absent from the market for many years,” he said in the release.

RLC Architects designed the project, which is near the Homestead Miami Speedway. Burke Construction is the general contractor. – Katherine Kallergis

 

Related Articles

arrow_forward_ios
MG3 Group executives (from top) Marcelo Saiegh, Hernan Leonoff and Gustavo Bogomolni with Everglades Preparatory Academy and Avant Garde Academy (MG3 Group)
MG3 Group sells Florida charter school portfolio for $242M
MG3 Group sells Florida charter school portfolio for $242M
Mark and Ian Sanders with the townhomes (Fifteen Group)
Fifteen Group sells off last piece of Homestead townhome portfolio for $101M
Fifteen Group sells off last piece of Homestead townhome portfolio for $101M
Renderings of Kevlar Gardens (Bellon Architecture)
Miami-Dade rezoning paves way for 321-unit multifamily project in Homestead
Miami-Dade rezoning paves way for 321-unit multifamily project in Homestead
Al Garcia and Homestead-Miami Speedway (Getty, iStock)
Homestead-Miami Speedway sells industrial site to Dallas developer
Homestead-Miami Speedway sells industrial site to Dallas developer
AHS Residential CEO Ernesto Lopes and AEW Global CEO Jeff Furber with 13700 Southwest 256th Street (Google Maps)
Alphabet soup: AEW pays AHS $57M for Homestead apartments
Alphabet soup: AEW pays AHS $57M for Homestead apartments
Camilo Miguel Jr. of Mast and 1140 Southeast 24th Road, Homestead (Mast Capital)
Mast Capital spends $51M on Homestead townhomes
Mast Capital spends $51M on Homestead townhomes
Stephen Marley with 27440 Southwest 187th Avenue (Getty, The Carroll Group)
Jammin: Son of Bob Marley buys Homestead estate
Jammin: Son of Bob Marley buys Homestead estate
Lennar's Stuart Miller and 28600 Southwest 132nd Avenue (Google Maps)
Lennar spends $29M on Homestead mobile home park, plans new community
Lennar spends $29M on Homestead mobile home park, plans new community
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...