Lease roundup: Nightingale, Terreno, Parker Realty score tenants
In one of the deals, proptech firm DoorLoop moved its headquarters in South Beach
Doorloop I Lincoln Place I Miami Beach
Proptech firm DoorLoop relocated its headquarters, though it is staying in Miami Beach.
DoorLoop leased the entire 8,000-square-foot second floor at Lincoln Place at 1601 Washington Avenue, according to a news release from the landlord’s broker. The firm moved from 560 Lincoln Road.
Tere Blanca, Chris Harak and Sky Jones of Blanca Commercial Real Estate represented the landlord. Tyler De La Pena and Stephen Rutchik of Colliers represented the tenant.
New York-based Nightingale Properties owns the eight-story, 140,000-square-foot Lincoln Place, after paying $80 million for the ground lease in 2016, records show. Elie Schwartz is CEO of Nightingale.
South Beach, long a tourist draw, is morphing into an office market, as well. Projects on tap include Eighteen Sunset in Sunset Harbour. Deco Capital Group, with backing from Marc Rowan’s RWN Real Estate Partners, is developing the five-story office, retail and residential building in the 1700 block of Purdy Avenue.
Sunbelt Rentals I Medley, Davie and Palm Beach County
Equipment rental company Sunbelt Rentals leased 96,500 square feet of industrial space across South Florida, according to the tenant’s broker.
The Fort Mill, South Carolina-based firm leased the entire 55,000-square-foot warehouse at 8050 Northwest 90th Street in Medley. Terreno Realty Corporation owns the facility on 6.8 acres near the Florida East Coast Railway tracks, records show.
Sunbelt Rentals also took 33,000 square feet in Davie at 3400 Burris Road. Fort Lauderdale-based Parker Realty Investments owns the property.
Near West Palm Beach, Sunbelt took 9,000 square feet at 966 Pine Road. An entity led by Thomas Michael Fucarile Jr. and Sean Michael Fucarile owns the property.
Patrick Conness of Conness Commercial Realty represented Sunbelt in the deals. Carlos Gaviria of Transwestern represented Terreno in the Medley deal.
South Florida’s industrial market softened late last year after two years of robust leasing. In the fourth quarter, vacancy across the tri-county region rose to 4 percent, from 3.4 percent, year-over-year.