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The Real Deal Miami

SoFla lease roundup: Dade Paper & Bag leases at Flagler Station II & more

Leases also at Downtown Miami’s Courthouse Tower and in Fort Lauderdale
By Amanda Rabines | May 02, 2018 12:30PM

Flagler Station and Downtown Miami’s Courthouse Tower and a rendering of its renovation plans

Flagler Station II gets 70,000-square-foot industrial lease

PriceSmart just terminated its lease for 122,000 square feet at Flagler Station II in Medley, and signed on a 70,424-square-foot sublease with Dade Paper & Bag. PriceSmart still has two 35,000-square-foot spaces available for sublease, according to a press release.

The deals chip away at a 262,898-square-foot block that PriceSmart listed for sublease upon moving a majority of its operations to another building in the industrial park. Last year, it paid $45.56 million for its new 19-acre site at 10800 Northwest 100th Street.

Transwestern’s Ben Eisenberg, Walter Byrd, Thomas Kresse and Carlos Gaviria represented PriceSmart in the sublease with Dade Paper & Bag, a North American distributor of disposable food service and janitorial supplies.

Dade Paper & Bag was represented by Steve Medwin at Newmark Knight Frank.

Downtown Miami’s Courthouse Tower secures 27,400 square feet of leases

Five companies leased a combined 27,400 square feet of space at Downtown Miami’s Courthouse Tower, bringing its occupancy to about 75 percent.

In 2016, New York-based Brickman paid $27.5 million for the 26-story, 163,160-square-foot Courthouse Tower building at 44 West Flagler Street. Originally built in 1974, the tower sits across the street from the Miami-Dade County Courthouse, near All Aboard Florida’s Brightline station.

The Consulate General of Jamaica inked a 6,651-square-foot contract. The company was represented by Zenith Realty Group’s Barron Channer.

Law firm Roig, Tutan, Rosenberg, Martin, Stoller & Bellido, PA renewed its 6,525 square foot lease and was represented by JLL’s Matthew Goodman and Jeff Gordon. The firm joins Maurice Jay Kutner & Associates PA , First Choice Reporting and Florida Mediation Group which also renewed their leases at the property.

Blanca Commercial Real Estate represented the landlord. Tere Blanca, president and CEO of Blanca Commercial Real Estate, said rents in the building range from $31 per square foot to $34 per square foot.

Since acquiring the building, Brickman has renovated the tower to include new elevators, a conference facility and a fitness center. Upgrades to the building’s façade, lobby, and common areas are also underway.

Auto companies expand into Fort Lauderdale warehouse/office facilities

Two auto companies are expanding their footprint in Fort Lauderdale.

Mennet Cars LLC and Auto Beast LLC just leased about 35,590-square-feet of space at 735 West Broward Boulevard. The landlord, Best Buy Repos, Inc., was represented by Jaime Sturgis of Native Realty. Auto Beast LLC was represented by Native Realty’s Amanda Roy.

A spokesperson said the auto facilities were previously occupied, but one of the tenants retired and the other downsized.