Coca-Cola Renews Miami-Area Industrial Lease
- Feb 06, 2017
Miami—Transwestern’s South Florida industrial team announced it has facilitated a long-term lease renewal with Coca-Cola at Seneca Industrial Park, located at 2500 SW 32nd Ave. in Pembroke Park, Fla. Coca-Cola will occupy 93,700 square feet of the 885,000-square-foot, Class A distribution and warehouse park.
Transwestern Senior Vice President Thomas Kresse, Senior Managing Directors Ben Eisenberg and Walter Byrd, and Associate Carlos Gaviria represented the owner, TH Real Estate. Jonathan Kingsley of Colliers International represented the tenant.
“The Broward industrial market’s key indicators—vacancy, absorption, rental rates and job growth—are all trending toward or at record levels since the last economic cycle,” said Kresse in prepared remarks. “With this renewal, we’ve completed more than 300,000 square feet of transactions at Seneca Industrial Park during the past 12 months, reflective of the tightening market and maintaining 98 percent occupancy in the park.”
Image courtesy of Seneca Industrial Park