The Real Deal Miami

SoFla lease roundup: Logistics company inks lease in Hialeah Gardens & more

Leases also at AVE Aviation & Commerce Center and Mizner Park Office Tower
By Amanda Rabines | March 12, 2018 08:45AM

Clockwise from top left: AVE Aviation & Commerce Center, Mizner Park Office Tower and Miami Industrial Logistics Center

Kuehne + Nagel Group inks 109,000 sf lease in Hialeah Gardens

International logistics company Kuehne + Nagel Group just expanded its footprint in Miami-Dade County with a 109,000-square-foot lease at the recently completed Miami Logistics Center in Hialeah Gardens.

Kuehne + Nagel Group inked the lease at the 255,846-square-foot building at 10701 Northwest 140th Street, raising the building’s occupancy to 80 percent from 40 percent. The building opened about five months ago, according to State Street’s Frank Trelles.

Doral-based State Street Realty represented the landlord Duke Realty, which paid nearly $80 million last year for the three-building industrial park, just east of the Ronald Reagan Turnpike and south of 138th Street.

The asking rent is about $9.15 per square foot, according to marketing materials. The industrial park totals nearly 677,000 square feet and offers space for more than 230 trailers and 32-foot-tall ceiling heights. Bridge Development Partners developed and sold the industrial park.

Kuehne + Nagel Group has at least three other offices in and around the Airport West-Doral submarket.

AVE Aviation & Commerce Center reaches 100% occupancy

Two companies have secured the remaining 30,000 square feet at AVE Aviation & Commerce Center at Opa-locka Executive Airport, according to a press release.

Michigan-based Valassis, a media delivery service company, inked a 12,000-square-foot lease; and the Ware Group/Johnstone Supply, a HVAC/R supplies wholesaler, signed an 18,000-square-foot lease at the park.

JLL’s Sky Groden represented The Ware Group/Johnstone Supply and Matt Maciag represented Valassis.

The 2.6-million-square-foot, mixed-use business park at 14350 Northwest 56th Court includes retail, office warehouse and jet hangar space. Other tenants include KSI Trading Corp., Turbopower, Banyan Air Services and the U.S. Postal Service.

Real Estate Firm Relocates HQ to Mizner Park Office Tower

Royal Investment Group just relocated its headquarters from Orlando to Mizner Park Office Tower in downtown Boca Raton.

The firm moved into a 5,300-square-foot space in the 167,600-square-foot, seven-story mixed-use tower. The real estate firm manages more than 1,100 properties and has offices throughout the U.S. and Canada.

Boca Raton-based Key Investment Advisors’ Kathleen Yonce represented the tenant. Cushman & Wakefield’s John K. Criddle and Joseph J. Freitas represented the building owners GGP and Clarion Partners.

Tenants at Mizner Park Office Tower include Kaufman, Rossin & Co.; Gray Robinson, P.A.; West Park Capital, D.A. Davidson & Co.; Mesirow Financial; Wintergreen; Morrison Brown and Brockway Moran & Associates.2