Miami Logistics Park Bolsters Occupancy

Neutralogistics has expanded its presence at Airport North Logistic Park by roughly 69,000 square feet. L&B Realty Advisors’ industrial complex is now 75 percent leased.
Aerial view of 8501-8503 N.W. 80th St.
Aerial view of 8501-8503 N.W. 80th St.

Cushman & Wakefield has negotiated a 68,787-square-foot lease expansion at Airport North Logistics Park (ALP), a master-planned industrial complex encompassing 900,000 square feet of Class A space in Medley, Fla. Neutralogistics currently occupies 105,920 square feet at Building 1 and will be expanding into Building 2. The deal brings the property to 75 percent occupancy.

Located at 8501-8503 N.W. 80th St., the first phase of ALP will comprise four facilities upon completion. Marine Harvest ASA, a seafood distributor, has signed a 106,000-square-foot, build-to-suit lease for the fourth building. Developers broke ground on the project in early May, with the building slated for delivery by year-end.

The team of Executive Director Wayne Ramoski, Director Gian Rodriguez and Senior Associate Skylar Stein represented landlord L&B Realty Advisors in the lease negotiations. Juan Ruiz with Blanca Commercial Real Estate represented logistics company Neutralogistics.

Earlier this year, Cushman & Wakefield brokered a full-building lease on behalf of Nestlé Waters North America at Building 3 of ALP. Buildings 1, 3 and 4 are now fully occupied. Roughly 211,000 square feet remain available in Building 2.

“The property’s premier location with unique access to expressways and other major business hubs aligns with Neutralogistics’ strategic business objectives and expansion plans over the next few years,” said Alex Tellez, founder & CEO of Neutralogistics, in a prepared statement.

Image courtesy of Cushman & Wakefield