The Real Deal Miami

South Florida lease roundup: Paper company inks deal at Miami Gardens industrial park & more

Leases also at Miami Tower, Venture Corporate Center, Lakeshore Business Center and Pompano Center of Commerce II
By Amanda Rabines | April 02, 2018 03:45PM

Sunshine State Industrial Park warehouse, Miami Tower, Venture Corporate Center, Lakeshore Business Center, Lakeshore Business Center

Paper company fills up warehouse at Sunshine State Industrial Park in Miami Gardens
​​​​Acorn East Paper Products Company is turning a new page with its recent lease at the 330-acre Sunshine State Industrial Park in Miami Gardens.

Acorn East, a paper and packaging company with operations throughout the western U.S., is taking a 42,000-square-foot warehouse at 16301 Northwest 15th Avenue, according to Rise Realty’s Keith Darby. Darby represented the tenant.

Records show the building, built in 1963, is owned by Miami-based A&R Realty Inc. Sunshine State Industrial Park has more than 5 million square feet of industrial space.

Miami Tower secures 32,500 sf of leases

Two companies are now leasing a combined 32,500 square feet of space at the Miami Tower in downtown Miami, bringing its occupancy to 87 percent, according to a release.

Sumitomo Corp. of Americas, the U.S. arm of Japanese trade conglomerate Sumitomo Corp., paid $220 million for the 47-story, 619,00-square-foot tower at 100 Southeast Second Street in 2016.

Transwestern’s Glenn Gregory and Christopher Dubberly brokered the leases. Prior to Transwestern, the ownership brought on JLL as well as brokerage Cushman & Wakefield to negotiate leases.

BDO USA, of the global accounting network BDO International, is moving out of its Brickell and Coral Gables offices and into a 23,000-square-foot lease at the tower. Dubberly represented the Sumitomo and Gregory represented BDO.

Chartwell Law Offices also signed a 9,500-square-foot lease at the building. The law firm is relocating from its Southeast Financial Center in downtown Miami. Gregory and Dubberly represented the landlord and Franklin Street’s Tom Farmer and Gola Corporate Real Estate’s Eric Wahlers represented the tenant.

Woundtech inks lease at Venture Corporate Center in Hollywood

Health technology company Woundtech is renewing and expanding its headquarters at Venture Corporate Center.

Woundtech will be moving out of its 9,870-square-foot space at Venture Corporate Center I and relocating to Venture Corporate Center II with a total of 21,700 square feet. The buildout will be completed by May.

Cushman & Wakefield’s Travis Herring and Katherine Ridgway represented the owner, Denver-based Black Creek Group. Cushman’s Jeff Holding, A.J. Belt and Christina Stine Jolley, represented Woundtech.

The three-building, 266,00-square-foot complex at 3440 Hollywood Boulevard is 88 percent leased to tenants that include EDP Holdings and Conroy Simberg.

Hair Visions International moves HQ to Lakeshore Business Center in Fort Lauderdale

Hair Visions International signed a long-term, 34,500-square-foot lease for its corporate headquarters at the Lakeshore Business Center in Fort Lauderdale.

The company will be taking over nearly 15 percent of the 234,950-square-foot Lakeshore Business Center at 5200 Northwest 33rd Avenue. Hair Visions International is a distributor of men’s hair replacement and women’s hair and extension products and services. The lease brings the Lakeshore Business Center’s occupancy to about 80 percent. Tenants include the Kirlin Group, ECI Telecom, Reynolds, Smith & Hills, Evolis and Embry Riddle University.

Real estate investment and management firm Morning Calm Management bought the complex in 2015 for $18.3 million at 52 percent leased, according to a release.

Pompano Center of Commerce II secures 55k sf of leases

Two companies will be moving into Pompano Center of Commerce II, a speculative industrial project in Pompano Beach.

Technical Entertainment Services secured a nearly 19,000-square-foot lease at 1650 Northwest 18th Street. The entertainment company is expected to move out of another Pompano location and into the building by May.

Portobello America, Inc., a subsidiary of Brazilian tile maker and distributor, Portobello S.A, leased 35,040 square feet at 1660 Northwest 18th Street. Tom Viscount of Butters Construction & Development represented the company.

Cushman’s Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister represented the landlord, Pompano Industrial Venture LLC. It’s a joint development between Butters Construction & Development and Blackrock. The project is about 40 percent preleased, according to the firm.

The joint venture bought the development site from Prologis in 2016 for $15.4 million.